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Volvo Cars Profit Dips, Eyes EX60 EV for Q2 Recovery
17 Jul
Summary
- Second quarter profits declined from the first quarter of the year.
- The EX60 electric SUV's deliveries are expected to boost profits.
- Stronger sales are predicted for the second half of the year.
Volvo Cars experienced a decline in its operating profit during the second quarter, reporting 800 million Swedish crowns. This figure is lower than the 1.6 billion crowns earned in the first quarter. The company is looking towards the ramp-up of its new flagship EX60 SUV to significantly improve its financial performance.
Looking ahead, Volvo Cars anticipates a substantial increase in sales for the latter half of the year. This projection is supported by expected growth in the European market and a continued recovery in the United States, though the market in China is noted as challenging.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
