Volvo Cars reports third-quarter results – despite multiple headwinds, demand continued to be robust
Company remains committed to deliver upon its mid-decade ambition to reach 50 per cent share of fully electric cars, with 40 per cent lower carbon footprint and premium profitability. · Retail sales decreased by 8% to 138 (150) thousand cars · Revenue up 30% to SEK 79.3 bn · Operating income (EBIT) was SEK 2.1 (3.3) bn · EBIT margin was 2.6 (5.5)% · EBIT margin excl. share of income from joint ventures and associates was 4.4 (7.1)% · Basic earnings per share was SEK 0.11 (0.86) · Electrified ‘Recharge’ line-up accounted for 25.1% of total sales in Q3, of which 7.4%