Volvo Group boosts Q1 sales and income | Automotive Industry News

Volvo Group (vehicles) Q1 2021 net profits increased 3% year on year to SEK94.0bn (SEK91.4bn). Modified for currency movements, internet profits increased by thirteen%.

Modified functioning income was SEK11,821m (SEK7,140m) for an altered functioning margin of 12.6% (7.eight%).

Noted functioning income was SEK12,067m vs SEK7,374m.

Forex movements experienced a destructive effects on functioning income of SEK1,125m.

Earnings for every share was SEK4.35 (SEK2.thirty).

Through the quarter Volvo Group and Daimler Truck introduced a gasoline-cell joint venture simply call Cellcentric. On one April , Volvo Group and Isuzu Motors closed the deal promoting UD Trucks (at the time Nissan Diesel) to the Japanese enterprise.

The shortage of semiconductors impacted Q1 creation, Volvo claimed without having elaborating. 
“The to start with quarter of 2021 was characterised by significant exercise amongst our buyers, which was mirrored in superior demand for each new items and providers,” claimed CEO Martin Lundstedt.

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