Tag: Volvo

Volvo Cars posts 8% rise in July-December profit

STOCKHOLM: Sweden’s Volvo Car Group reported a 8.2% rise in operating profit on Thursday for the second half of 2020, and said it would improve profitability to pre-corona levels this year if market conditions continue to normalise. The Gothenburg-based carmaker, owned by China’s Geely Holding, reported July-December operating earnings of 9.50 billion Swedish crowns ($1.1… Continue reading Volvo Cars posts 8% rise in July-December profit

Daimler to spin off truck unit, give clear investor focus on Mercedes-Benz

By Nick Carey 2 Min Read (Reuters) – German carmaker Daimler plans to spin-off Daimler Truck, the world’s largest truck and bus maker, as it seeks to increase its investor appeal as a focused electric, luxury car business. FILE PHOTO: Ola Kaellenius, chairman of Daimler AG attends the presentation of the new Mercedes-Benz S-Class at… Continue reading Daimler to spin off truck unit, give clear investor focus on Mercedes-Benz

Daimler to spin off trucks in shift to electric, self-driving vehicles

By Reuters Staff 2 Min Read FILE PHOTO: Daimler AG sign is pictured at the IAA truck show in Hanover, Germany, September 22, 2016. REUTERS/Fabian Bimmer/File Photo/File Photo (Reuters) – German carmaker Daimler plans to spin-off Daimler Truck, the world’s largest truck and bus maker, to allow it to focus on zero-emission vehicles and self-driving… Continue reading Daimler to spin off trucks in shift to electric, self-driving vehicles

Veoneer: Financial Report October – December 2020

STOCKHOLM, Feb. 3, 2021 /PRNewswire/ — Financial Summary – Q4’20             Financial performance better than expectations              Net Sales $455 million, Organic Sales1 increase 17%             Active Safety Net Sales increase 38%, Organic Sales increase 31%              Operating cash flow $(77) million, $27 million improvement YoY              Cash balance $758 million Outlook – FY’21              Organic Sales1  growth YoY is expected to… Continue reading Veoneer: Financial Report October – December 2020

EU car sales: COVID recovery expected to start in 2021, auto industry says

Brussels, 3 February 2021 – After a year that saw the sharpest drop ever in EU car sales due to the COVID-19 pandemic, the European Automobile Manufacturers’ Association (ACEA) forecasts that 2021 will mark a first step on the path to recovery, with sales rising by about 10% compared to 2020. The fallout of COVID… Continue reading EU car sales: COVID recovery expected to start in 2021, auto industry says

Volvo Group – the fourth quarter and full year 2020

GÖTEBORG, Sweden, Feb. 3, 2021 /PRNewswire/ — “In 2020, the global pandemic presented us with challenges that are unprecedented in modern times. Together with business partners and suppliers, we supported our customers through all stages of the crisis. We handled dramatic fluctuations in demand while taking decisive steps forward towards tomorrow’s fossil-free transport system. We… Continue reading Volvo Group – the fourth quarter and full year 2020

Ford vehicles will be powered by Google’s Android operating system

Millions of Ford and Lincoln-branded vehicles will be powered by Android operating system beginning in 2023 as part of a six-year partnership announced Monday that will bring embedded Google apps and services to drivers. Ford and Google said as part of the partnership they will establish a new collaborative group called Team Upshift that will… Continue reading Ford vehicles will be powered by Google’s Android operating system