Volvo Reports 20% Sales Increase In Third Quarter, Expects Sales To Decline In 2024

An electric truck outside Volvo Trucks’ Tuve factory in Gothenburg, Sweden. (Holly Adams/Bloomberg)

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Volvo Group announced on October 18 that global profits and sales increased in the third quarter, but it expects global truck sales next year to be down compared to 2023 levels. The Sweden-based company reported third-quarter profit of $1.29 billion, or 63 cents per diluted share. On the other hand, net profit…