Volvo feels a trade war

Volvo has in the third quarter, a significantly lower profit in the books. The result had to suffer from the higher import tariffs as a result of the trade war between the United States and China.

The operating profit (ebit) halved in the past reporting period to 1.8 billion Swedish krona, converted as'n 173,4 million euro. The net result fell by more than 50 percent to 1.1 billion koruna. In addition to the trade barriers that the US and China together imposing, decreased the profit by the increased expenditure on the launch of new products. In like manner, Volvo, as well as a lot of industry peers, a lot of money in technology for autonomous driving cars.

Volvo, that is in the hands of the Chinese Geely, conducted his sales. Revenue increased on an annual basis, a small 18 percent to 56.8 billion Swedish krona. The group sold in the past reporting period 154.914 cars. That were there a year before 135.831.