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Volvo Sets Sights on 15% North American Market Share Through Vocational Truck Push

Volvo Trucks aims to capture 15% of the North American heavy-truck market, with vocational vehicles central to the strategy. The manufacturer currently holds just 2-3% of the vocational segment, where its FMX cab-over model commands roughly 30% market share in Europe and Brazil. The newly unveiled VNX joins the long-haul VNL and regional-haul VNR on a shared North American platform. All three trucks utilize common chassis and electrical architecture while featuring distinct cabs tailored to their segments. Vocational construction represents 25-30% of the total truck market, a stable category Volvo had largely overlooked. The company is investing more than $2 billion in new products, with total expenditure reaching $3 billion when manufacturing is included.