Volvo beats expectations with boosted sales, income in second quarter

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Despite the supply chain disruptions and increased material costs plaguing production everywhere, Swedish vehicle maker Volvo reported a boost in second quarter profits on Tuesday. The company reported “good momentum both in the sales of vehicles and in the service business,” in a statement accompanying the data release, which showed that profits for rose to 13.7 billion krona ($1.3 billion), up from 11.4 billion in the second quarter of 2021. That was on sales that rose 31% to 118.9 billion krona compared to the second quarter of 2021. Adjusted for currency fluctuation, that’s an increase of …

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