Related News
Volvo suffers 84% plunge in H1 earnings
VOLVO Car Corp, the Swedish automaker owned by Chinese maker Zhejiang Geely Holding Group Co, yesterday reported an 84 percent plunge in first-half profit as it spent more on new models and plants.
Earnings before interest and taxes dropped to 239 million kronor (US$35.5 million) in the first six months of 2012 from 1.53 billion kronor a year earlier, the Gothenburg-based carmaker said. Sales for the former Ford Motor Co unit rose 3.9 percent to 65.3 billion kronor, even as deliveries fell.
"We are building up our capacity in a declining market," Volvo CEO Stefan Jacoby said. "Ford had left Volvo in a situation where Volvo wasn't sustainable. No new products, no growth, no investments in China and so on. That's what we're adding now."
Earnings before interest and taxes dropped to 239 million kronor (US$35.5 million) in the first six months of 2012 from 1.53 billion kronor a year earlier, the Gothenburg-based carmaker said. Sales for the former Ford Motor Co unit rose 3.9 percent to 65.3 billion kronor, even as deliveries fell.
"We are building up our capacity in a declining market," Volvo CEO Stefan Jacoby said. "Ford had left Volvo in a situation where Volvo wasn't sustainable. No new products, no growth, no investments in China and so on. That's what we're adding now."
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.