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Volvo Cars Q4 profit lags forecasts -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : A Volvo XC40 SUV is adorned with the logo Volvo at its front grill in a Mexico City Volvo showroom, Mexico City on April 6, 2018. REUTERS/Gustavo Graf

STOCKHOLM (Reuters] – Volvo Cars revealed Friday its quarterly earnings, which were lower than expected. However, the company said that it plans to increase sales volume for 2022.

According to Refinitiv, the Swedish automaker saw its fourth quarter operating profits drop to 3.7 billion Swedish Crowns ($396.4m) rather than 4.9billion a year earlier. This compares to an average of 4.77billion in Refinitiv’s poll.

($1 = 9.3353 Swedish crowns

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