Volvo Cars’ core operating profit for Q2 2024 was a new record, netting SEK 8.2bn (US$780m) or +28% year-on-year. The automaker’s share of “electrified” sales for the quarter—meaning both pure electric vehicles (EVs) and plug-in hybrids—was 48%, up from 39% in Q2 2023, with EVs alone reaching 26% (+10%). Management attributed its success to healthy brand growth, cost control, and disciplined pricing.
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