Ericsson Gets Lockdown Boost, Autos See Recovery: Earnings Wrap
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Some slivers of light emerged for the car industry as the first week of earnings season wrapped up for European companies, while the benefits of working from home showed up in results from telecom-equipment company Ericsson AB.
German car manufacturer Daimler AG said Friday it saw a gradual recovery in orders in the latter part of the second quarter and rival Volkswagen AG predicted the rebound in China’s car market will pick up pace. Swedish truck maker Volvo AB, however, said it expects a hit to demand in the short and medium term.