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

A Volvo EX30 absolutely electrical EV Automobile is displayed throughout the All the pieces Electrical London 2024 at ExCel on March 28, 2024 in London, England.

John Keeble | Getty Photos Information | Getty Photos

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

First-quarter core working revenue was 6.8 billion Swedish kronor ($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 however rose 12% year-on-year to 182,687 automobiles, the corporate mentioned, after a brand new all-time month-to-month gross sales report in March.

“Now we have had a powerful begin to the yr, with our first quarter outcomes laying a stable basis for the yr forward,” CEO Jim Rowan mentioned in a press release.

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