Volvo China export strategy pinpoints new Geely plan phase, Reuters says Volvo's goal to turn China into an export hub shows parent company Zhejiang Geely is out to disprove pessimists who are doubting Chinese companies' ability to manage worldwide consumer brands, according to Reuters, citing comments from an executive who requested anonymity because he is not authorized to speak with reporters. The car manufacturer is hoping to surpass its FY14 China sales target by at least 13%. Reference Link
Volvo reports Q1 revenue SEK 74.8B vs. SEK 65.6B last year Reports Q1 net income SEK 7.07B. Operating income excluding restructuring charges and the capital gain from the sale of shares amounted to SEK 4.6B, corresponding to an operating margin of 6.1%. Truck order intake increased by 3% while order intake of construction equipment decreased by 24%.