IVECO BUS, the No. 2 manufacturer in Europe with a 25% market share (2024 EU 27 TIV) in 2024, confirms its leading role in driving the energy transition in passenger transport. Backed by outstanding performance, the manufacturer proves the relevance of its technology-neutral approach and investments in Europe.
No. 2 manufacturer of electric urban buses in 2024:
In the booming electric urban market (+21.1% vs 2023), IVECO BUS increased its market share by 6.5 points in 2024, rising for the first time to the second rank among electric vehicle manufacturers with 14.2% of registrations. This performance is reflected in its leading positions in the electric urban bus market in Italy (35%) and France (56%). The manufacturer remains the European leader in the intercity segment with over 50% market share and has recorded the first deliveries of its CROSSWAY LE ELEC, accounting for 26% of electric intercity bus registrations.
Undisputed leader in natural gas:
At the same time, with 65% of natural gas vehicle registrations in 2024, IVECO BUS confirms its European leadership in this alternative energy. One in two urban buses (50%, +5.5 pts vs 2024) and more than three-quarters (78%, +11 pts vs 2024) of intercity vehicles running on natural gas in Europe are IVECO.
Iveco Bus economic performance:
As part of the 2024 Full Year Results announced on February 7th by Iveco Group (EXM: IVG), the Bus Business Unit saw its adjusted EBIT rise by €31 million compared to 2023, reaching €140 million. This strong performance was underpinned by a solid long-term order book for electric buses and driven by achieved economies of scale. The adjusted EBIT margin stood at 5.5%, up from 4.9% in 2023.
Massive strategic investments:
After the Rorthais, Foggia and Vysoké Myto sites, it was the turn of the Annonay plant to be electrified in 2024 to integrate the production of electric buses. A new battery assembly unit was also set up on the site, allowing IVECO BUS to control its entire electric value chain. These strategic investments in industrial facilities will enable the Brand to increase its capacity to meet growing demand.
A tailor-made offer:
Today, the manufacturer’s offer ranges from 100% electric urban buses with the GX ELEC and E-WAY models to hydrogen-powered with a fuel cell model – which has already recorded its first orders in Cannes, Lorient, and La Roche-sur-Yon. It also includes the intercity segment, with the CROSSWAY LE ELEC, whose deliveries have started, and the expansion of the offer with the CROSSWAY ELEC model presented at the end of 2024. Finally, the complete “Energy Mobility Solutions” ecosystem allows for a tailor-made offer to support all electromobility projects.
A record order book for electric models:
The order book, reaching 3,000 units, illustrates the confidence of mobility authorities, operators and purchasing centres in IVECO BUS’s expertise in electromobility.
“2024 marks a major turning point for IVECO BUS. We have reached a new milestone by becoming the second European electric bus manufacturer while maintaining our position as the leader in natural gas technology. These results validate our strategy and reward the significant investments we have made in R&D and in our industrial facilities to offer the most comprehensive mobility solutions on the market. They also confirm the relevance of our technology-neutral approach to sustainably and effectively support the energy transition in transport,” said Claudio Passerini, President, Bus Business Unit, Iveco Group.
SOURCE: Iveco
