Mexican Media Brands
Volvo Truck Earnings Jump, but Orders Fall
Commercial truckmaker AB Volvo reports its net income in the third quarter more than doubled to 3.1 billion kronor ($364 million). Operating income surged to 4.6 billion kronor from 2.3 billion in the same period in 2914.
#economics
Share
Commercial truckmaker AB Volvo reports its net income in the third quarter more than doubled to 3.1 billion kronor ($364 million). Operating income surged to 4.6 billion kronor from 2.3 billion in the same period in 2914.
Sales rose 9% to 73.3 billion kronor ($8.6 billion), mainly because of acquisitions and favorable exchange rates. On an adjusted basis, July-September sales advanced only 1%.
Sales were driven by strong demand in North America and Europe and tempered by a sharp decline in South America. But the company cautions that net orders for new trucks fell 15% to 42,600 units as an 11% gain in Europe was offset by a 40% drop in North America.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.