Volvo Cars shares down 8% as first-quarter revenues fall
Publishing timestamp: 2024-04-24 08:05:58
Summary
Volvo Cars reported an increase in first-quarter core operating profits driven by strong retail sales, but also saw a drop in revenues. The company's focus on premium autos has helped protect it from increased competition and weaker mass market consumer spending. Volvo Cars is on track towards its target of at least 15% annual sales volume growth, with a focus on increasing sales of electric vehicles and maintaining solid margins. The company expects further rise in 2024 retail sales, with a considerable increase in the share of fully electric vehicles.
Sentiment: MIXED
Tickers: 8JO0-FF,
Keywords: earnings, breaking news: technology, business news, business, volvo car ab, autos, technology,