News Formal

Geely's Volvo Cars sees wider market recovery on solid growth in China

  • 📰 Reuters
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Volvo Cars said on Tuesday it expects its business to recover in the second half of the year, even as the automaker reported an operating loss for the January-June period.

The Gothenburg-based company, owned by China’s Geely Holding GEELY.UL, has been hit hard by the pandemic that has temporarily closed plants and strained supply chains in the industry, with lockdowns in many key markets and transport hubs.

“If the market recovers as we expect, we anticipate sales volumes to return to the levels we saw in the second half of 2019 and it is also our ambition to return to similar profit levels and cash flow,” CEO Hakan Samuelsson said in a statement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Li Shufu and Chairman Xi their wives are sisters 「Peng Liyuan and Peng Lijuan」

If anyone thinks it's fake news that China has contained COVID19, these economic signs are undeniable and a direct rebuttal to that. No one can defy science and facts even if you are the most powerful man in the world, such as the President of the United States.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Euro, euro zone bond markets hold out hope for recovery fund; stocks higherThe euro and euro zone bond markets held out hope European Union leaders would strike a deal on a recovery fund for the bloc's pandemic-ravaged economy on Monday, while the region's stock markets inched cautiously higher as talks paused.
Source: Reuters - 🏆 2. / 97 Read more »

Mark Cuban: Market's coronavirus rally looks 'so similar' to the dot-com bubbleBillionaire entrepreneur Mark Cuban joins CNBC's 'Squawk Box' to discuss what he's seeing in the markets as investors follow the volatility amid the coronavirus crisis.
Source: CNBC - 🏆 12. / 72 Read more »