Volvo Reports Record Third-Quarter Income
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Volvo AB is the parent of U.S.-based Volvo Trucks North America and Mack Trucks.
olvo AB’s third-quarter profit more than doubled to about $370 million or 92 cents a share, from $147 million or 35 cents a year earlier, Bloomberg reported.
Volvo’s truck sales gained as U.S. trucking companies replaced used vehicles and expanded their fleets, Bloomberg said. Chief Executive Officer Leif Johansson said the results were Volvo’s best third quarter ever.
Sales rose 14% to $6.7 billion. The Gothenburg, Sweden, company reports its earnings in Swedish kronor.
About 56% of Volvo AB’s sales are in Europe, 26% in North America and 10% in Asia.
