Home News Volvo suffers from trade wars

Volvo suffers from trade wars

853
0

The trade war between the US and China has significant effects on carmakers.

Volvo Cars, held by a China-based privately held global automotive group Geely, increased its operating income by 0.9% to $1.5 billion.

It also made 21% more revenue, making it $27 billion.

Volvo’s profit margin, however, decreased to 5.6% from 6.7%.

“We have a very, very strong product offering and a modest market share outside Sweden, so we are expecting and planning for further growth,” CEO Hakan Samuelsson told British Reuters.

‘’But we have to be realistic and acknowledge that margins will remain under continued pressure,”  he added.

 

 

 

 

 


Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


Previous articleSaudi Arabia launces its first satellite
Next articleUber to operate boats in Mumbai against traffic

LEAVE A REPLY

Please enter your comment!
Please enter your name here