On Friday, Volvo, the world's second-largest truck maker, announced that its net profit for the quarter rose by 23%, exceeding its forecast. The company’s truck market share in Europe and North America also exceeds the target.
In the second quarter of Sweden, Volvo’s net profit reached 881 million U.S. dollars (approximately 7.048 billion yuan), far exceeding expectations. The company said in a statement, “This series of profits is not only due to the strong demand from the automotive market for the new superpowered vehicles we have launched, but also because of the company’s higher production capacity and the availability of a highly efficient cooperative team.†In recent quarters, heavy-duty truck manufacturers have made high profits from demanding North America, Asia, and Europe. Analysts, on the other hand, hope that Swedish local automaker Scania, which is also a rival of Volvo, will earn more than Volvo by the end of next week, up 28%.
So far, Volvo's various vehicle indicators have been relatively stable and meet the automotive industry's relevant development index standards. In addition, Volvo's operating margin increased from 8.8% to 10%, which is one percentage point higher than analysts' expectations. This is the best result Volvo has achieved so far.
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