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Volvo Car’s Operating Profit Jumps 21%
Volvo Car Corp.’s operating profit in the first half of 2017 surged 21% to 6.8 billion kronor ($819 million), the Swedish carmaker’s best January-June result in six years.
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Volvo Car Corp.’s operating profit in the first half of 2017 surged 21% to 6.8 billion kronor ($819 million), the Swedish carmaker’s best January-June result in six years.
Revenue for the period climbed 18% to 99 billion kronor ($11.9 billion). Unit sales rose 8% to 277,600 cars.
Volvo’s deliveries across Europe grew 7% to 160,800 units in the first half. Sales fell 7% to 34,100 units in the U.S. because of delivery constraints. But volume jumped 28% to 51,900 cars in China.
The company, which sold a record 534,300 cars last year, describes itself as “firmly” on course to surpass that level in 2017. Volvo CEO Hakan Samuelsson says sales will be aided by improved second-half results in the U.S. and the debut of the redesigned Volvo XC60 midsize crossover model.
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