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☆ Volvo braces for slower truck markets next year after Q3 profit beat
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

The Volvo logo is seen in truck for sale in Linden, New Jersey, U.S., May 23, 2022. Its adjusted operating profit margin widened to 14.4% from 10.3% as price hikes made up for higher costs. The company predicted the European and North American heavy truck markets would total 290,000 vehicles each in 2024. "We expect our major truck markets to continue to be strong throughout this year as we continue to deliver from our large order books to customers, but (we) forecast lower market levels for next year," Lundstedt said. Reporting by Marie Mannes and Marta Frąckowiak; editing by Anna Ringstrom and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Martin Lundstedt, Lundstedt, Hampus Engellau, Marie Mannes, Marta Frąckowiak, Anna Ringstrom, Jason Neely Organizations: Volvo, REUTERS, LSEG, Thomson Locations: Linden , New Jersey, U.S, STOCKHOLM, Swedish, American, Gothenburg, Russia, North America, Europe

[1/4] President and CEO of AB Volvo Martin Lundstedt is seen on the day of the presentation of Volvo Group's Q2 2023 earnings report, in Gothenburg, Sweden, July 19, 2023. Adam Ihse/TT News Agency/via REUTERSCompanies Volvo AB FollowSTOCKHOLM, July 19 (Reuters) - Swedish truckmaker AB Volvo (VOLVb.ST) on Wednesday logged a better-than-expected 57% jump in second-quarter adjusted operating profit, helped by price hikes. "We have been successful in improving margins while managing cost inflation and increased disturbances in the supply chain," Chief Executive Martin Lundstedt said in a statement. Operating profit before restructuring charges and legal claims surged to 21.7 billion crowns ($2.1 billion), beating a Refinitiv consensus estimate of 18.4 billion crowns. Reporting by Marie Mannes; editing by Anna Ringstrom, Jason Neely and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Volvo Martin Lundstedt, Adam Ihse, Martin Lundstedt, Lundstedt, Marie Mannes, Anna Ringstrom, Jason Neely, Edwina Gibbs Organizations: Volvo, TT, Agency, REUTERS Companies Volvo, STOCKHOLM, truckmaker, JPMorgan, Thomson Locations: Gothenburg, Sweden, Europe, North America, Stockholm

Volvo, a rival of manufacturers such as Daimler Trucks (DTGGe.DE) and Traton (8TRA.DE), forecast 2023 heavy truck sales in Europe and North America of 320,000 for each region. Handelsbanken analyst Hampus Engellau said the raised truck outlook sent a strong message that Volvo sees the second-half of 2023 as a good market for its trucks. Gothenburg-based Volvo, which also makes construction equipment and engines, said there was pent-up demand to replace aging fleets which had helped boost order intake. Shares in Volvo, one of Sweden's biggest employers, rose 1.2% in morning trade in a flat broader market (.OMXSPI). Volvo is not the only automaker to have had a good quarter.

☆ AB Volvo profit just short of forecast as supply strain lingers
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

[1/2] Volvo trucks are seen for sale in Linden, New Jersey, U.S., May 23, 2022. REUTERS/Andrew Kelly/File PhotoJan 26 (Reuters) - Swedish truck maker AB Volvo (VOLVb.ST) reported a slightly smaller rise than expected in fourth-quarter core profit on Thursday and proposed an extra dividend but warned that its supply chain struggles are set to linger. Adjusted operating profit at Volvo, a rival of German brands such as Daimler Trucks (DTGGe.DE), rose to 12.2 billion Swedish crowns ($1.19 billion) from 10.1 billion crowns a year earlier and an average forecast of 12.5 billion crowns from analysts in a Refinitiv poll. Chief Executive Martin Lundstedt said the business continued to be affected by a volatile supply chain for components as well as its supplier base being under financial pressure from high energy prices and input costs. The world's second-biggest truck manufacturer proposed an ordinary annual dividend of 7.00 crowns per share and a extra dividend of the same amount.

☆ 7 companies poised to cash in on the $30 billion hydrogen commercial-vehicle market by winning over giants like Amazon
▼ + stars: | 2022-09-20 | by ( Andrew Moseman | ) www.businessinsider.com time to read: +7 min

Rising fuel costs, the possibility of stricter emissions regulations to come, and questions about battery supplies, have all increased the appeal of zero-emission fuel cells. Volvo TrucksVolvo GroupCEO: Martin LundstedtMarket Cap: $32.97 billionHQ: Gothenburg, SwedenVolvo Trucks said in June 2022 it had begun testing hydrogen fuel-cell trucks. In the latter case, Plug Power has provided Amazon with more than 15,000 fuel cells to replace the batteries in its warehouse forklifts since 2016. Plug just signed a new deal to provide the behemoth with the liquid hydrogen necessary to run its fuel-cell vehicles starting in 2025. As part of a deal with Weichai group, Ballard is building fuel cells in China to power fuel-cell vehicles in that market.

☆ Una dintre cele mai vechi companii auto din lume anunţă că în următorii ani va construi doar maşini electrice
▼ + stars: | 2021-07-02 | by ( ) www.jurnal.md time to read: +1 min

Sursa foto: ProfimediaUna dintre cele mai vechi companii auto din lume anunţă că în următorii ani va construi doar maşini electriceVolvo îşi doreşte ca până în 2030 să producă doar maşini 100% electrice. Compania a prezentat imagini cu conceptul noului SUV 100% electric. SUV-ul Volvo ar putea fi un concurent real pentru Tesala Model X.Volvo a prezentat primele imagini cu conceptul noului SUV 100% electric. Conceptul noului SUV este pionierul platformei EV, pe care Volvo vrea să o dezvolte. CEO-ul Volvo a vorbit despre planul companiei: „Nu poate fi decât o singură viziune pe termen lung.

Persons: îşi, News, Tesla, Martin Organizations: Volvo

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