Tag: Volvo

Volvo Car said supply constraints and ongoing coronavirus lockdowns in China hit retail deliveries and production in the second quarter and will continue to affect retail sales in the third quarter, although demand remains strong . The carmaker said it now expects a marked improvement in the supply situation, with production returning strongly in June, […]

Swedish truck maker Volvo reported a bigger-than-expected rise in second-quarter profit, and said it had successfully mitigated the effects of supply chain disruptions and higher material costs. The truck, construction equipment, bus and engine maker’s adjusted operating profit rose to 13.75 billion kroner ($1.3 billion) from 9.73 billion kroner a year ago, compared with 12.17 […]

Volvo Cars’ sales fell 26.9% year-on-year in June as lockdowns in China caused parts shortages that hit production of its mostly electric and plug-in hybrid cars. The Swedish carmaker, owned by China’s Zhejiang Geely Holding Group, said it sold 49,904 vehicles in June, down from 68,224 vehicles in the same month last year. In Europe, […]

Volvo Car Group has announced it will invest 1.2 billion euros to build a new production plant in Slovakia as part of its expansion plans, the Swedish carmaker said. The new factory, Volvo Cars’ third in Europe, will build only electric vehicles, in line with the company’s ambition to reach the end of the decade […]

Volvo Car announced that car sales fell 28.3% year on year in May as supply chain problems and lockdowns in China hit production. The company had previously said that shortages of semiconductors would affect production during the second quarter, although today it said it had recently seen signs of improved supply with gradual easing of […]

Volvo Car sales fell 24.8% in April as semiconductor shortages weighed on production, while lockdowns in China hit car deliveries. The company had previously stated that the lack of supply of a particular type of semiconductor would affect production in the second quarter, but stressed today that it considers this to be a temporary setback […]

Volvo will make forecasts of 4 billion kronor ($ 423.23 million) and expects a negative impact on operating profits this year due to the uncertainty caused by the war in Ukraine, said the Swedish truck manufacturer. Volvo has suspended all sales, services and production in Russia, which last month accounted for 3% of the group’s […]

Volvo is making a strategic investment in Bcomp, which is an innovative Swedish company that develops high-performance lightweight materials. Specifically, the company uses flax fiber, a biological-based material which, compared to conventional plastic parts, offers significant savings in terms of weight, energy use and emissions. One of the advantages of the material is that it […]