Pursuits
Volvo Cars 2015 Profit Triples as XC90 SUV Exceeds Targets
- Operating margin more than doubles to 4% vs. 1.5% a year ago
- Chinese-owned carmaker forecasts record deliveries for 2016
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Volvo Car Group’s earnings tripled last year after higher-than-expected sales of the revamped XC90 sport utility vehicle helped push deliveries above 500,000 vehicles for the first time.
Operating profit rose to 6.62 billion kronor ($778 million) from 2.13 billion kronor in 2014, the Gothenburg, Sweden-based company said Thursday in a statement. Revenue rose 19 percent to 164 billion kronor after deliveries reached an all-time high for a second consecutive year. The carmaker said it expects a third year of record vehicle sales for 2016.