Volvo Cars emphasises resilience in its Q3 earnings report

On 22 October 2024, Volvo Cars reported its financial results for the third quarter. Overall, it performed relatively well: operating profits stood at SEK 5.8bn (US$547.6m), a notable improvement on SEK 4.5bn in Q3 2023. Revenue was also slightly improved: SEK 93bn against SEK 92bn the year before. Gross margins came in at 20.5%, which it states are “broadly in line” with its underlying operational gross margins for the year to date.