By Helena Soderpalm
STOCKHOLM -Volvo Vehicles flagged a possible dip in retail gross sales this yr after posting larger second-quarter earnings.
Provide issues, above all a world scarcity of semiconductors, have squeezed output and retail gross sales in latest quarters, however Volvo stated it was seeing a “marked enchancment” within the stabilisation of its provide chain.
The Sweden-based carmaker stated on Wednesday it anticipated full yr retail deliveries to be decrease or on par with 2021, whereas wholesale volumes will improve.
“Nevertheless, because of the time lag between manufacturing and retail deliveries, these enhancements are usually not anticipated to end in a rise in retail gross sales throughout the calendar yr,” the corporate stated.
Volvo Chief Government Jim Rowan stated the corporate would “control” shopper sentiment, not least resulting from larger inflation.
“However proper now demand may be very sturdy,” he stated.
Volvo’s quarterly working revenue rose to 10.8 billion Swedish crowns ($1.06 billion) from 4.8 billion a yr in the past as accounting results from the itemizing of high-performance automaker Polestar gave a lift.
Working earnings for the core enterprise at Volvo Vehicles, majority owned by China’s Geely Holding, reached 4.6 billion within the quarter.
“Volvo reported a strong set of Q2 ends in the sunshine of a number of hurdles together with semiconductor constraints and influence of Chinese language lockdowns on demand,” funding financial institution JPMorgan stated in a be aware.
($1 = 10.2089 Swedish crowns)
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