Based on the Volvo T 46 introduced in 1946, the T 55 was developed in 1953 and was sold both as a red Volvo and a green BM. The engine was a new Bolinders direct-injection diesel. A fourth cylinder had been added to the 3-cylinder version introduced the previous year, resulting in a 4.5-liter, 57-horsepower engine. It had 5+1 gears and a 14-inch clutch. Later models featured a differential lock. Unlike the previous model, power steering brakes were standard. The powerful 55 was popular, among other things, in earthmoving work.

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