Automaker Volvo Cars posts a rise in third quarter operating earnings

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STOCKHOLM : Sweden-based automaker Volvo Cars reported a rise in third-quarter operating earnings on Thursday driven by strong volumes and lower costs for semiconductors and raw materials.Volvo Cars, majority-owned by China's Geely Holding, said operating income rose to 4.5 billion Swedish crowns ($402.

FILE PHOTO: A Pure Electric sign is seen above a Volvo vehicle displayed during a media day for the Auto Shanghai show in Shanghai, China April 20, 2021. REUTERS/Aly Song/File photoSTOCKHOLM : Sweden-based automaker Volvo Cars reported a rise in third-quarter operating earnings on Thursday driven by strong volumes and lower costs for semiconductors and raw materials.

Volvo Cars, majority-owned by China's Geely Holding, said operating income rose to 4.5 billion Swedish crowns in the quarter from a year-ago 2.1 billion. "We remain vigilant in light of the macroeconomic and geopolitical uncertainties and remain laser-focused on execution," Chief Executive Jim Rowan said in a statement.

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