Volvo Cars’ first quarter 2017 operating profit rises 11 per cent to SEK3.5 billion
Volvo Cars, the premium car maker, reported an operating profit of SEK3.5 billion for the first three months of the year, up 11 per cent from SEK3.1 billion during the same period last year. The increase was mainly driven by strong demand for the company’s XC60 and 90 series cars. Volvo Cars reported an operating profit margin of 7.3 per cent, down from 7.5 per cent last year. Profitability was partly offset by costs related to the launch of the new 90 series cars and the new XC60, as well as continuous investments in new technologies and a rising number of employees. Since the first