Volvo Group began in 1927 when the first Volvo car rolled off the production line at the factory in Gothenburg. Only 297 cars built that year. The first truck, the "Series 1," debuted in January 1928, as a success and attract attention overseas. In 1930, Volvo sold 639 cars, and truck exports to Europe started soon after; car did not become well known outside Sweden until after World War II.
Marine engines have become part of the Group almost as long as the truck. Pentaverken, founded in 1907, was acquired in 1935. In early 1929, however, U-21 outboard engine was introduced. Manufacturing continued until 1962.
The first bus, named B1, was launched in 1934, and aircraft engines added to a range of products developed in the early 1940s.
On January 28, 1999 Volvo Group sold the business area of Volvo Car Corporation to Ford Motor Company for U.S. $ 6.45 billion, with the resulting group is now largely set on commercial vehicles. On January 2, 2001, Renault véhicules Industriels (which includes Mack Trucks, Renault shares but not in Irisbus) has been sold to Volvo, which renamed it Renault Trucks in 2002. As a result, the former mother company Renault Volvo AB is the largest shareholder with a 20% share (in shares and voting rights).
The last ten years the company has experienced rapid growth in the service area with, for example, financial solutions that support the sales of the manufacturing business units. In 2006, AB Volvo acquired from Nissan Motor Co. Ltd., 13% of the shares in the Japanese truck manufacturer Nissan Diesel, and became the main shareholder. In 2007, Volvo Group took full ownership of Nissan Diesel to expand the Asian pacific market expansion.
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