27
Oct
17:09
Volvo Cars’ Q3 profit sinks 70.9% on adverse conditions
Swedish carmaker Volvo Cars saw its Q3 net profit shrink by 70.9%, led by a decline in sales alongside industry-wide headwinds, Kallanish reports.
Net income fell to SEK 665 million ($60.8m) in Q3 2022, compared to SEK 2.29 billion a year earlier. Retail sales dropped 8% on-year to 138,000 units, while electric vehicles sales (both BEV and PHEV) declined 9.5% to 34,614 units.
Yet, revenue was up 30% at SEK 79.3 billion, reflecting the strength of the brand and …
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Anonymous
Very good overview of the weekly steel market.
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