profits

Volvo Cars Reports Record Profits And Strong Pre-orders For EX30 Electric SUV

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Volvo Cars has announced extraordinary financial results for the third quarter of 2023, posting an astonishing 75% increase in operating profit excluding joint ventures and affiliated companies. The company reported operating profits of SEK 6.1 billion (approximately $1.4 billion), demonstrating continued growth and solidifying its position in the industry. Source: www.motormoutharabia.com

Tesla Price Cuts, Repair Costs Impact Profits, Hertz Delays EV Plans

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“The introduction of EVs will be slower than previously anticipated,” Hertz CEO Stephen Sher said during the company’s third-quarter earnings conference. at 5:05pm ET Last week, General Motors and Ford announced they would delay spending on electric vehicles, citing slowing demand for BEVs and the EV price war started by Tesla. Source: insideevs.com