Jul 19, 2024 04:35 AM
BUSINESS
Volvo Car Tweaks Sales Outlook on China EV Tariff Conflict
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A Volvo EX30 at the Beijing Auto Show in April
(Bloomberg) — Volvo Car AB has lowered its auto-sales forecast for this year slightly due to the potential impact of the European Union’s trade dispute with China over support for its electric vehicle (EV) industry.
The Chinese-owned manufacturer now sees retail sales growing between 12% and 15%, down from a previous projection of at least 15%, it said Thursday. Volvo Car’s second-quarter operating profit beat expectations, however, on robust demand for its EVs and plug-in hybrids.
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