Volvo Cars isn’t just growing volumes under its Chinese owner, it’s also moving further upmarket and entering new business areas. The full year results for 2017 show that this strategy is paying off: there was a 27.7% jump in operating profit, a SEK3.1bn (US$382m) improvement in earning and a 7% jump in sales volumes. At the same time, revenue rose 17%….
Volvo thrives under Geely ownership, profitably pursuing new avenues
This is a completely different Volvo from the one Geely bought from Ford back in 2010, with a regionally diverse production base and investments in EVs, AV software, alternative mobility and subscription services. By Megan Lampinen