Volvo Cars net profit falls but says demand strong

Stockholm (AFP) April 24, 2024

Swedish automaker Volvo Cars said Wednesday its net profit fell in the first quarter but it sold a record number of units in March and expects strong demand this year. The company, which is owned by Chinese auto giant Geely, said its after-tax profit fell 10 percent to 3.6 billion kronor ($333 million). Its revenue fell two percent to 93.9 billion kronor due to lower sales from contract