Volvo Vehicles core working income rise in first quarter on larger retail gross sales

Swedish automaker Volvo Cars on Wednesday reported an uptick in first-quarter core working income pushed by sturdy retail gross sales.

First-quarter core working revenue was 6.8 billion ($629 million), an 8% improve year-on-year. The determine excludes joint ventures and associates.

Income was 93.9 billion, down 2% from the primary quarter 2023.

Retail gross sales nonetheless rose 12% year-on-year to 182,687 automobiles, the corporate mentioned, after a brand new all-time month-to-month gross sales document in March.

“We have had a strong start to the year, with our first quarter results laying a solid foundation for the year ahead,” CEO Jim Rowan mentioned in a press release.

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