Volvo Cars reports 8% increase in Q1 adjusted operating earnings, driven by lower material costs and higher volumes.

Swedish automaker Volvo Cars reported an 8% increase in first-quarter adjusted operating earnings to 6.8 billion Swedish crowns ($629.27 million), driven by lower material costs and higher volumes. Retail sales rose 12% year-on-year to 182,687 cars. Revenue was 93.9 billion, down 2% from the first quarter of 2023. Volvo Cars expects 2024 to be another solid year after the record year of 2023.

April 24, 2024
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