Volvo Cars Boosts Profit Goal as Europe Sales Outweigh China

Volvo Car Group boosted its earnings goal for the year, saying the robust European market would outweigh a slowdown in China, where pressure to discount is increasing.

“The price situation in China is getting tougher,” Chief Executive Officer Hakan Samuelsson said in a phone interview on Wednesday. “The important thing is to see the strength of having Volvo global. We can balance out softer development in China.”