Despite their shared name, Volvo Trucks and Volvo Cars have been two entirely separate businesses since the end of the 1990s. AB Volvo Group of Sweden is the world's third largest manufacturer of commercial transport behind Volkswagen and Daimler, and Volvo the #1 truck brand in Europe by market share. In addition to Volvo-branded trucks and buses, the group controls the famous Mack heavy trucks brand in North America, as well as Prevost and Nova buses and coaches. It produces a range of commercial vehicles in Europe under license for Renault, while in Asia, its businesses include UD Trucks of Japan and India's Eicher joint venture. Other divisions make construction equipment, engines and drive systems. Global demand for heavy trucks and equipment has proved mercurial for several years, rising and falling sharply since the mid-2000s. Volvo's own truck sales almost halved between 2008 and 2007, and have bounced up and down ever since. Deliveries for 2016 were 190,000 trucks, the lowest figure since 2010, and 44,300 construction vehicles. Group revenues were the equivalent of €32bn for 2016, and profit margins have been improving after several years of decline. That weakness led to the replacement of CEO Olof Persson in 2015 by former Scania boss Martin Lundstedt. Just under two-thirds of sales are provided by its trucks division, and around a sixth by construction equipment. Volvo was one of five European truckmakers fined in 2016 by regulators for taking part in a cartel to fix prices for their vehicles. Founded in 1927, Volvo's name was derived from its predecessor company which made ball-bearings (Volvo is Latin for "I roll"). It was primarily a car manufacturer for most of its first 50 years, but gradually expanded its heavy division in the 80s and 90s through acquisition (Mack from GM in 1986, Renault trucks in 2000). Until 2012, Volvo's biggest shareholder was Renault of France. The two companies came close to merger in the 1990s, but Renault sold its remaining shares in 2012. Adbrands does not currently offer a business profile for this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.
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Capsule checked 13th April 2017
Adbrands Weekly Update 4th Jan 2018: Chinese auto manufacturer Geely, owner of the Volvo passenger cars business since 2010, took steps to forge closer ties with that brand's namesake and former parent, Volvo Group of Sweden, which makes heavy trucks under the Volvo and Mack brands. The two businesses have been separate companies for almost 20 years, when Volvo sold its passenger division to Ford, who later sold it on to Geely. Now the Chinese group will acquire a near-15% voting stake in Volvo Trucks from a private equity firm.
Adbrands Weekly Update 10th Dec 2015: Ads of the Week "Look Who's Driving". Proof that NOTHING is quite as dangerous as a four-year-old. The latest Volvo Trucks live test from Forsman & Bodenfors allows a little girl to remote control a full-size ten-ton truck with disastrous results... but not for the truck which sails through multiple appalling bad steering calls with little more than a few scratches. Very funny and awesomely destructive. Do you think just anyone can sign up to play this game? Beats anything you can get on a home console...
Adbrands Weekly Update 25th Jun 2015: Volvo Trucks and its agency Forsman & Bodenfors, collected a second consecutive Grand Prix in Creative Effectiveness for the Live Test Series, a multiple award winner at the 2013 Festival here taking a second bow. It was one of several repeat winners in this category, which allowed entries from the past three years.
Adbrands Weekly Update 19th June 2014: Forsman & Bodenfors' series of "live tests" for Volvo Trucks were one of the pre-opening favourites to win big at Cannes Lions 2014 and they justified that anticipation with their first Grand Prix this week, one of three awarded in the Cyber category. More accolades could follow by the end of the week. Here's a reminder that the campaign didn't just consist of Jean-Claude van Damme's epic split, but also offered several other notable stunts involving truck-driving hamsters, the Pamplona bull run, and Volvo executives putting themselves in harm's way to demonstrate key features.
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