Swedish automaker Volvo Cars released its financial report for the second quarter on Thursday, showing its operating revenue significantly exceeded market expectations. This performance highlights the company's strong resilience and adaptability despite a generally weak electric vehicle market.
Specifically, Volvo Cars achieved an operating revenue of 8 billion SEK in the second quarter, well above the 5 billion SEK of the same period last year. This achievement not only reflects the robust development of the company's core business but also demonstrates its outstanding performance in facing market challenges. Notably, this revenue includes the impact of Volvo's stake in the loss-making company Polestar, which has been striving for profitability in recent years.
Analysts had previously predicted Volvo Cars' operating revenue for this quarter to be 6.7 billion SEK, and the actual result significantly exceeded this expectation, indicating that the market had underestimated Volvo Cars.
Volvo Cars also noted that excluding the impact of joint ventures and associated companies, its operating revenue increased from 6.4 billion SEK in the same period last year to 8.2 billion SEK this quarter, further proving the strong growth of the company's core business.
