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Volvo Cars Triples Operating Income in First Half
Volvo Car Group reports its operating income zoomed to 5.6 billion kronor ($650 million) in the first half of 2016 from 1.7 billion kronor in the same period last year.
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Volvo Car Group reports its operating income zoomed to 5.6 billion kronor ($650 million) in the first half of 2016 from 1.7 billion kronor in the same period last year.
Revenue and unit sales each climbed 11% to 83.6 billion kronor ($9.7 billion) and 258,600 cars, respectively. The company notes that volumes rose 10% in Europe, 25% in the U.S. and 6% in China.
The company predicts record results for the full year, driven in part by strong demand for its flagship XC90 luxury crossover vehicle. That model will be joined by the redesigned S90 sedan and V90 wagon later this year.
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