How did Volvo Car AB's revenue change from 2022 to 2023?

Volvo Car AB revenue grew from $34.6B in 2022 to $37.6B in 2023, a change of 8.7%.

Was 2023 Volvo Car AB's best revenue year?

No. Volvo Car AB's highest recorded revenue year was 2024 at $39.8B. In 2023, Volvo Car AB reported $37.6B.

What was Volvo Car AB's highest ever annual revenue?

Volvo Car AB's highest ever annual revenue was $39.8B recorded in fiscal year 2024.

Volvo Car AB

Automotive ManufacturingFounded 1927

Reviewed by Swet Parvadiya

Last reviewed: June 2025

Explore Volvo Car AB

Core profile pages, annual revenue records, and related research hubs for this company.

Volvo Car AB

Automotive ManufacturingFounded 1927

Reviewed by Swet Parvadiya

Last reviewed: June 2025

Annual Revenue

Volvo Car AB Revenue in 2023

Q: What was Volvo Car AB's revenue in 2023?

Volvo Car AB reported $37.6B in revenue for fiscal year 2023. This represents a +8.7% change compared to 2022. Revenue climbed to $37.6 billion in 2023, an 8.7 percent gain over the prior year, reflecting solid premium SUV sales as Volvo ramped its native electric EX30 and EX90 models.

FY2023 Revenue

$37.6B

▲ 8.7% vs FY2022 ($34.6B)

Source: Annual report / company filing

Volvo Car AB reported $37.6B in revenue for fiscal year 2023. This represents a growth of 8.7% compared to the 2022 figure of $34.6B. In 2024, revenue increased to $39.8B.

Revenue climbed to $37.6 billion in 2023, an 8.7 percent gain over the prior year, reflecting solid premium SUV sales as Volvo ramped its native electric EX30 and EX90 models.

Revenue by Year

FY2024 FY2023 FY2022

Volvo Car AB Annual Revenue History

Year	Revenue	Net Income	YoY Change
FY2024	$39.8B	$1.8B	+5.9%
FY2023	$37.6B	—	+8.7%
FY2022	$34.6B	—	—

Source: SEC EDGAR filings, annual earnings releases, and verified financial disclosures.

← Previous year

FY2022: $34.6B

Next year →

FY2024: $39.8B

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