Volvo Car AB Publishes 2024 Annual and Sustainability Report
GOTHENBURG, Sweden, March 12, 2025 – Volvo Car AB (publ.) is proud to announce the publication of its Annual and Sustainability Report for the year 2024. The report is now available on the company’s Investors website for all interested parties to review.
Key Highlights from the Report
The report provides insights into Volvo Car AB’s financial performance, as well as its progress in the areas of sustainability and social responsibility. Some of the key highlights from the report include:
- Financial Performance: Volvo Car AB reported a revenue of SEK 236.5 billion ($25.8 billion USD) for the year 2024, representing a 10% increase compared to the previous year. The company’s operating income also saw a significant increase, reaching SEK 17.2 billion ($1.9 billion USD), up from SEK 12.5 billion ($1.4 billion USD) in 2023.
- Sustainability: Volvo Car AB continued its commitment to reducing its carbon footprint by launching three new electric models and expanding its charging infrastructure. The company also reported that 25% of its global sales came from electric vehicles in 2024, up from 15% the previous year.
- Social Responsibility: Volvo Car AB’s focus on safety remained a top priority, with the company reporting a 15% reduction in accidents involving its vehicles. The report also highlighted the company’s initiatives to promote diversity and inclusion in the workplace, with a goal of achieving gender balance and ethnic diversity in its workforce by 2030.
Impact on Consumers
The publication of Volvo Car AB’s Annual and Sustainability Report for 2024 is good news for consumers who are conscious about the environmental impact of their vehicle purchases. With the company’s continued focus on electric vehicles and expanding charging infrastructure, consumers have more options for reducing their carbon footprint when it comes to transportation.
Additionally, Volvo Car AB’s commitment to safety and social responsibility means that consumers can feel good about supporting a company that prioritizes the well-being of its employees and the communities in which it operates.
Impact on the World
Volvo Car AB’s focus on sustainability and electric vehicles is a positive step for the environment. With 25% of its global sales coming from electric vehicles in 2024, the company is contributing to the growing demand for electric transportation. This, in turn, is helping to reduce the world’s reliance on fossil fuels and decrease greenhouse gas emissions.
Furthermore, Volvo Car AB’s initiatives to promote diversity and inclusion in the workplace are an important step towards creating a more equitable society. By setting goals for gender balance and ethnic diversity, the company is leading by example and inspiring other organizations to do the same.
Conclusion
Volvo Car AB’s publication of its Annual and Sustainability Report for 2024 is a testament to the company’s commitment to financial performance, sustainability, and social responsibility. With a focus on electric vehicles and expanding charging infrastructure, consumers have more options for reducing their carbon footprint. The company’s initiatives to promote diversity and inclusion in the workplace are also an important step towards creating a more equitable society.
As we move towards a more sustainable future, it is essential that companies continue to prioritize these issues. Volvo Car AB’s leadership in this area is a positive sign for the future and a reminder that businesses have the power to make a difference.
