Volvo boosts earn­ings viewon Europe sales

China Daily (Canada) - - BUSINESS -

Volvo Car Group has boosted its earn­ings goal for the year, af­ter see­ing ro­bust Euro­pean de­mand out­weigh­ing a slow­down in China. “The price sit­u­a­tion in China is get­ting tougher,” said CEOHakan Sa­muels­son. “The strength of Volvo glob­ally means we can bal­ance out softer de­vel­op­ment in China.” The Swedish man­u­fac­turer, bought by bil­lion­aire Li Shufu’s Zhe­jiang GeelyHold­ing Group Co in 2010, now ex­pects a “sub­stan­tial” in­crease in 2015 profit.

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