Volvo Today –
AB Volvo is the Swedish automaker of commercial automobiles, including buses, trucks and construction equipments. Recently Volvo delivered buses for the Soccer World Cup and it also received the order for 12 hybrid buses to Norway. Renault trucks, Mack Trucks, Volvo Construction Equipment, UD Trucks, and Volvo trucks are all the subsidiaries of the Volvo Group.
Volvo History –
In 1915, Volvo was incorporated as the subsidiary of the Swedish ball-bearing maker, AB SKF. On 11 May 1915, AB Volvo presented an application to register the trade mark ‘Volvo’ for its several product lineups.
On 25July 1924, Gustaf Larson and Assar Gabrielsson, the two founding fathers, convinced to begin the production of the Swedish car.
In June 1926, the first prototype car was introduced.
On 14 April 1927, this company was officially found. The Volvo OV4 model was the first car of this brand. During this year, this automaker was employing over 76,000 people worldwide and the business of Volvo was expanded in more than 125 countries.
In 1928, the first series-manufactured truck was introduced under this brand.
In 1930, the whole Volvo management was relaxed due to successful sales of truck and now, this automaker was financially stable. During this year, Volvo sold 639 cars.
In 1931, the new LV66- and LV68-Series of trucks was unveiled
During 1932, this automaker sold over 2,448 units. The LV71-74 model was the first export success which was sold in several countries all over the globe.
In 1933, Volvo had delivered 10,000 automobiles. The PV654, first luxury model was launched under Volvo and in the Netherlands; the Volvo LV75 model was unveiled.
In 1934, the amount of export vehicles now reached up to 775. In this same year, Volvo introduced its first bus, the B1.
In 1936, this company had 1,115 employees on its payroll.
In 1937, annual production of Volvo modified to 1,804 units and the 25,000th PV52 model was produced. In this very same year, this automaker released the LV29 truck and the B41 bus.
In 1938, its product lineup was elaborated with the new B50 bus model.
In 1940, Volvo formulated the producer-gas unit due to petrol rationing. This company demonstrated its first Terrain model, the TVA.
In 1941, this company owned a maximum shareholding in Svenska Flygmotor. The 50,000th vehicle was manufactured by Volvo.
In 1943, the modified version of ‘Roundnose’ truck was introduced.
In 1944, the new PV model was launched by Volvo. In the month of September, Volvo invited the general public to its major exhibition which was held at the Royal Tennis Hall, Stockholm. In this exhibition, Volvo displayed its full range of military automobiles along with the current Volvo lineups. But, the new PV444 model was the star attraction of this show.
In 1945, production of the Volvo B51 bus was begun and due to shortage of sheet metal and rubber, this automaker faced major difficulties while manufacturing the new PV444.
At the end of 1946, the new bus B53 was launched under Volvo.
In February 1947, manufacturing process of the PV444 finally restarted. Now, Volvo became one of the largest automakers with a turnover of SEK 112 million and this company was employing around 3,000 people.
During 1948, the number of staff went around 6,000 and from this same year, this automaker became the tractor manufacturer as well.
On 25 August 1949, Volvo produced its 100,000th car, the black PV444 model at the Lundby production plant. The PV445 car was also launched in this year. The B51 passenger bus and the T3 models were released.
In 1950, this company owned the AB Bolinder –Munktell, construction equipment manufacturer. In the Swedish vehicle market, this automaker introduced the new material, Reflex to boost traffic safety.
In 1951, Volvo launched its first mid-engine bus, the B65.
In 1952, this automobile manufacturer unveiled its BM35, BM36, and T35, T36 models.
In 1953, the first mass-manufactured estate model, Duett was released by Volvo.
In 1954, the TL22 model was launched by this company.
In 1955, this automaker rolled off the 100,000th PV444 model.
In 1957, Volvo unveiled world’s first, small, purpose built machine, Bamse. The annual production of this company went up to more than 50,000 units and it had 13,000 employees.
In 1959, the upgraded ‘Aquamatic’ engine was launched by Volvo. For the first time, the P1800 model was shown.
In 1960, Volvo owned its long-time rival, Arvika-Thermaenius. The S1000 model was sold as a Munktell under the name Volvo BM.
In 1961, this automaker launched its most durable and popular product, the B18 engine.
In 1962, Volvo achieved the first safety award. As per the statistics, this automaker was positioned as number four in the list of America’s imported cars.
In 1963, this automobile manufacturer was employing 20,000 people. And the turnover was over SEK 2 billion.
In 1964, production of the B65 bus was dropped. Volvo inaugurated its two new production plants, one in Alsemberg and the other one in Torslanda. The first European forward control truck, L4851 was introduced under this brand.
In 1965, this company opened new diesel engine assembly plant in Skovde, Sweden and in this same year, it also opened one plant in Ghent, Belgium that would have an annual manufacturing capacity of 14,000 units and this plant was employing around 600 people.
In 1966, the first hauler, Grus-Kalle was launched by Volvo.
In 1967, the new B58 bus was released by this automaker.
In 1968, Volvo started car production business in Malaysia and truck assembly operations in Australia.
In 1969, Volvo owned the production plant in Olofstrom. The official truck division of Volvo was formed in this very same year.
In 1970, this automaker rolled off their two-millionth car.
In 1972, Volvo owned the Dutch DAF Cars Corporation. The Technical Center of Volvo was opened and the new VHK510 model was introduced. This company opened new truck plant in Australia.
In 1973, P. G. Gyllenhammar declared at the press conference that Volvo became the first non-American automaker to establish a car production plant in America. From this year, the Bolinder-Munktell company was called as the Volvo BM AB.
In 1974, Volvo introduced the 240- and 260-series of its passenger cars. For production of buses and trucks, the new assembly plant was set up in Irvine.
In 1975, this company built its second truck production plant in Belgium which was now converted into the European company. On 3rd February, Volvo rolled off three-millionth car, the blue 245.
In 1976, this automobile manufacturer achieved the international road safety prize, the Don Safety Trophy, in Great Britain. The three-millionth car of Volvo, the Blue 245 model was rolled off in this same year. The Penta model of this famous brand was entered in the World Championship.
On 14 April 1977, this company celebrated its 50th anniversary and during this year, Volvo was employing more than 62,000 people. In Boras, this automaker started its new bus assembly plant and it also introduced the F10 and F12 models. The first generation of wheel loaders, the LM4300 was launched under this brand.
In 1978, Volvo Board suggested a merger between Volvo and Saab-Scania and the new firm would be known as the Volvo Saab-Scania AB. But, this proposal was rejected. In this year, Volvo being reorganized with Swedish-Norwegian Company to start a joint venture and this firm was named as the Volvo AB. The F7, the compact-size L4200, and B10R models were launched by this automaker. New truck assembly plant was established in Tuve, Sweden and the bus production factory was inaugurated in Boras, Sweden.
In 1979, the Volvo F7 model was awarded the ‘Truck of the Year’ award. Renault owned shareholding in Volvo. This automaker introduced the fourth generation of mid-engined bus, B10M.
In 1980, Volvo started its new assembly plant for manufacturing trucks and bus chassis in Curitiba, Brazil. The Volvo Concept car was introduced and AB Volvo owned the Beijerinvest AB.
In 1982, the company launched the new Volvo 760 model. In this very same year, Volvo formatted its subsidiary companies, - Volvo Buses, Volvo Trucks, Volvo Cars, Volvo Penta, Volvo Data, Volvo Components, and Volvobil. In Tuve, Volvo trucks started its new production plant.
In 1983, Volvo designed and built the new environmental concept car, LCP. The Saloon versions of the 340- and 360- series were manufactured.
In 1984, Volvo Buses manufactured the C10M and the F10 Intercooler truck of this brand won the ‘Truck of the Year’ award. The ‘Nordic tractor’ was launched by the Volvo Valmet in Finland.
In 1985, the 480 ES sports coupe and the new 700-Series estate car were introduced by this company.
In 1986, Volvo became the first truck-maker to achieve the ‘Truck of the Year’ award for the third time and this time, it won this award for the FL range. In this same year, this automobile manufacturer introduced the four-valve engine and the new low-built FL truck range.
In 1987, Volvo launched the most powerful truck, the F16 and the White Truck under the WhiteGMC badge. From this year, operations began at the new car production plant in Uddevalla, Sweden.
In 1988, this company apportioned SEK 20 million for the ‘Volvo Environmental Prize’ and from this year; White Trucks became called as the WhiteGMC.
In 1989, this automaker established the Uddevalla production plant.
In 1990, Christer Zetterberg was appointed as the new president and CEO of AB Volvo.
In 1991, Baroness Lydia Dunn was elected as the first woman who had been appointed to the Volvo Board. In this same year, the Munktell Museum was established in Eskistuna, Sweden. Volvo introduced all-round models.
In 1992, Volvo Buses invested in designing the range of buses which to be run on natural gas. Soren Gyll was appointed as the new President and CEO of AB Volvo. During this year, this company went through some serious economical crisis. Volvo Penta entered into the joint venture with Outboard Marine Corporation.
In 1993, Volvo became the first European truck manufacturer to sell its product in Japanese vehicle market on a regular basis. This automaker manufactured the rear-engined bus, B10C. During this same year, this automobile manufacturer introduced the new Volvo FH Series.
In 1994, new Volvo board was elected and the first bus of this brand was manufactured by the Xian Silver Bus. The FH truck of Volvo achieved the ‘Truck of the Year’ award.
In 1995, AB Volvo owned the remaining 50 percent of the outstanding stake in Volvo Construction Equipment. In the month of June, this company owned 51 percent of the Prevost Car Inc, the well known Canadian bus maker. The Volvo S40 and the V40 models were unveiled. The B12-600 bus of Volvo awarded with the ‘Coach of the Year’. In this same year, this automaker also introduced the Environmental Concept Bus and the Environmental Concept Truck. The museum of Volvo was officially inaugurated.
In 1996, the Volvo S70 and the V70 were introduced along with the new generation of the Volvo 850 and the exclusive c70 coupe. In North America, the Volvo VN truck was launched.
In 1997, Leif Johansson became the new president and CEO of Volvo Group. For the expansion of truck business operations, Volvo signed a deal with Mitsubishi.
In 1998, this company released the new S80 model which became the ‘Safest Car of the Year’ and this automaker also launched the new generation of Volvo FM and the Volvo 5000 and 7000 City Buses.
In 1999, the extraordinary general meeting suggested to sell ‘Crown Jewel’ of Volvo to the Ford motor company for SEK 50 billion. Volvo trucks signed a co-operation deal with the Schmitz Cargobull and it was achieved the ‘European Truck of the Year’ for fifth time.
In 2000, Volvo trucks introduced the new generation of FL and Volvo Buses launched the B12M. The A35D, A40D and the Penta were unveiled under this brand. This automaker owns an interest in Bus Company and Fuso Truck of Mitsubishi. Volvo appointed five females to the board of product companies.
In 2001, AB Volvo owned Renault Trucks and its subsidiary, Mack trucks in the America, and established Volvo Global Trucks. The FH and FM models were launched under this brand. Volvo CE unveiled the new series of haulers, the A25D and the A30D.
On 14th April 2002, Volvo celebrated its 75th anniversary. In Poland, Volvo CE inaugurated its new factory in this same year and it also established the new production factory in Shanghai, China. Volvo CE introduced the new E-series wheel loaders and B-series crawler excavators.
In 2003, this automaker acquired truck and construction equipment operations of Bilia. Volvo began manufacturing in Russia and also started production of trucks in China from this year. In Brazil, Volvo introduced the NH model and in South America, it launched the FH and FM models.
In 2004, Volvo CE released the new range of compact excavators.
In 2005, Volvo Penta secured an order from South Korea for over 300 industrial diesel engines.
In 2008, Volvo introduced first gasoline engine.
In 2010, the revenue of this company was SEK 264.75 billion and the overall operating income was SEK 18.00 billion. During this same year, the profit of this automaker was SEK 10.87 billion and it was employing around 105,260 people.