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Truck maker Volvo doubles net profit in third quarter

Europe
20.10.2017
By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
Stockholm (dpa) - Swedish heavy vehicle maker Volvo said Friday its third-quarter net profit doubled to 5.5 billion kronor (674 million dollars), citing strong demand in Europe and improved market conditions in North America and China.

The Volvo Group, which excludes the brand‘s China-owned car division, posted a net profit of 2.6 billion kronor in the corresponding business period of 2016.

Net sales in the third quarter totalled 77 billion kronor, up 16 per cent year-on-year when adjusted for foreign exchange rates as well as divested and acquired units.

The group said it delivered about 46,600 trucks during the July to September period, up 13 per cent year-on-year.

Truck orders rose by 32 per cent to 51,955 trucks on higher demand in most regions, including Brazil, where demand has previously been weak, Volvo said.

In addition to trucks, the Volvo Group sells buses, and construction machinery - a unit that also saw healthy sales in the quarter. The group also includes the engine-making division Volvo Penta.

The Volvo car division is owned by Chinese group Zhejiang Geely Holding.

 

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