The Swedish commercial vehicle manufacturer Volvo increased sales and profits in the past year despite the general lack of chips. In the fourth quarter, however, increased material costs and problems in the supply chain sapped profits, as the truck and bus manufacturer announced in Stockholm on Friday. The global supply of semiconductors and other parts remains unstable, said CEO Martin Lundstedt. There will be further interruptions and production stops at trucks and in other parts of the group. Volvo competes with Daimler Truck and the VW subsidiary Traton, among others.
In the second year of Corona, Volvo increased sales by ten percent to a good 372 billion Swedish crowns (35.6 billion euros). The surplus increased by almost two thirds to 33 billion crowns. In the fourth quarter, however, the manufacturer was unable to convert an increase in sales into more profit. Due to positive special effects in the same period last year and the increased cost of materials, the surplus fell by 14 percent to 8.1 billion crowns. Adjusted for special effects, operating profit fell by eight percent and was therefore slightly lower than analysts had expected on average. (dpa/swi)
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From the data center:
Sales of medium/heavy trucks and buses in Europe in 2020, by brand
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