STOCKHOLM (Reuters) – Sweden-based automaker Volvo Car Group reported a smaller than expected fall in first-quarter operating earnings on Thursday and said overall demand remained healthy at global level despite continued challenging macroeconomics.
Volvo Cars, majority-owned by China’s Geely Holding, said operating earnings fell to 5.1 billion Swedish crowns ($494.63 million)in the quarter from a year-ago 6.0 billion, beating a mean forecast of 3.6 billion, according to Refinitiv estimates.
The automaker reaffirmed its outlook for “solid double-digit growth” in retail sales this year, provided there were no major supply disruptions.
($1 = 10.3107 Swedish crowns)
(Reporting by Marie Mannes, editing by Essi Lehto)
