Volvo said a slowing global economy is not yet weighing on demand as the truckmaker reported better-than-expected profit for the second quarter.
Volvo AB said a slowing global economy is not yet weighing on demand as the truckmaker reported better-than-expected profit for the second quarter.
The world’s second-biggest truckmaker is still working to fill pent-up demand and has reduced taking on new orders to cut wait times and deal with inflation. While Volvo has faced extra costs related to supply-chain disruptions and raw materials, the manufacturer raised prices to mitigate those effects.
“We’re not out of the woods yet,” Lundstedt said. “It’s not only a matter of chips, electronics and logistics. We still see bottlenecks in many places so we must stay vigilant.”
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