Filed under: Earnings/Financials,Volvo
Sweden's Volvo Car Group, owned by China's Geely, reported an 18% rise in fourth-quarter operating profit as cost cuts and growing sales more than offset the impact of subdued global auto markets. The Gothenburg-based carmaker, which Geely acquired from Ford Motor Co in 2010, reported operating earnings of 5.29 billion Swedish crowns as revenues rose 8.4% to 79.2 billion. Sales of Volvos rose nearly 10% in 2019 - with growth of 23.4% in the fourth quarter alone - as increases in China an
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Volvo fourth-quarter profit boosted by cost cuts and sales growth originally appeared on Autoblog on Thu, 6 Feb 2020 08:41:00 EST. Please see our terms for use of feeds.
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