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Swedish auto and truck manufacturer AB Volvo (OTCPK:VOLAF) managed to move sales and profits upward in the first quarter against a spate of problematic trends touching the industry. The company reported double digit gains in both revenue and profitability year over year, while maintaining a r...
Volvo AB press release (OTCPK:VOLAF): Q1 GAAP EPS of SEK 3.46. Revenue of SEK 105.32B (+12.0% Y/Y), adjusted for currency movements and the divestment of UD Trucks, the increase was 11%. Adjusted operating income amounted to SEK 12,681M (SEK 11,821M in Q1 2021), corresponding to an adjus...
Stellantis (NYSE:STLA) joins manufacturers such as Ford (F), Volvo (OTCPK:VLVLY), Toyota (TM), General Motors (GM), BMW (OTCPK:BMWYY), Jaguar Land Rover, Mercedes Benz (OTCPK:DDAIF), the VW Group (OTCPK:VWAGY) and Renault (OTC:RNSDF) in suspending production activities in Russia. The company ...
EV adoption is accelerating as governments and corporations work towards meeting climate change-related emissions reduction targets. Industry forecasts have EVs reaching a 36% penetration rate by 2030, representing a $1.4 trillion opportunity. Original equipment manufacturers (OEM...
Volvo, manufacturer of trucks, buses and equipment, did quite well for the FY but there are headwinds on the horizon. China's economic woes are an issue for the equipment segment, and semiconductor shortages are stymying hope for sales growth. Freight conditions are making things ...
Here are the latest headlines in the Russia-Ukraine crisis: Volvo takes $423M charge to cover Russia losses Volvo (OTCPK:VLVLY)(OTCPK:VOLAF)(OTCPK:VOLVF) said Friday that it's taking a provision worth roughly 4B Swedish crowns ($423.2M) against the Swedish vehicle giant's Q1 earnings to cover...
AB Volvo (OTCPK:VOLAF) -3.8% stated Friday that its first quarter operating income is expected to take a hit from uncertainty caused by the Russia-Ukraine war for which the Swedish truck maker will set aside $423.2M (SEK 4B) in provisions. "Volvo Group has total assets of about SEK ...
Gores Guggenheim ("GGPI") announced its planned de-SPAC transaction with Volvo- and Geely-backed electric vehicle maker Polestar last year. The transaction is expected to close in the first half of 2022. The GGPI stock continues to trade at a discount to other EV pureplays, despit...
Volvo (OTCPK:VLVLY) reports sales declined 22.1% to 58,677 units in March, impacted by shortages of a specific semiconductor. The number of active subscriptions at the end of March had increased by 174% Y/Y. European sales in March fell 30.4% to 26,954 cars and in Q1 fell 25.6% to 65,157 cars...
Cummins has an axle in the old world of fossil fuels and another in the new world of green energy. Its leadership and alliances should help ensure that they and their customers can make the transition. The company’s strong financial condition and low P/E point to a stock wo...
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Extraordinary General Meeting of AB Volvo AB Volvo hereby gives notice to the Extraordinary General Meeting Tuesday, June 29, 2021 PR Newswire GOTHENBURG, Sweden , June 3, 2021 /PRNewswire/ -- Due to the extraordinary situation as a result of the COVID-19 pan...
AB Volvo's Board of Directors proposes a distribution of the proceeds from the sale of UD Trucks PR Newswire GÖTEBORG, Sweden , June 1, 2021 /PRNewswire/ -- AB Volvo's Board of Directors proposes that the proceeds from the sale of UD Trucks are to be distr...
Volvo Group and Daimler Truck AG fully committed to hydrogen-based fuel-cells - launch of new joint venture cellcentric PR Newswire GOTHENBURG , Sweden and STUTTGART, Germany , April 29, 2021 /PRNewswire/ -- Today, two leaders of the commercial vehicle...