Volvo Cars reports a 39% increase in operating profits, excluding joint ventures and associates, to nearly A$912 million (SEK6.4 billion) and a corresponding EBIT margin of 6.3% for the second quarter of 2023.
Q2 revenue was A$14.57b (SEK102.2b) with Q2 fully electric car sales share at 16% (7% in Q2 2022).
Sales of fully electric Volvo car models increased by 178% year-on-year during the quarter.
The Volvo EX90 and EX30 SUV models are not yet in production and have so far not contributed to the company’s 2023 performance.
Once these new cars hit the roads, they will further boost fully electric car sales towards Volvo Cars’ ambitious goal to sell only fully electric cars by 2030, says the brand.
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