The Swedish truck and bus manufacturer Volvo Group was affected in the first quarter by the corona crisis in its sales and production. This put pressure on the results.
According to Volvo, there was a strong impact from mid-March due to supply chain disruptions and production shutdowns at most plants due to government measures to address the outbreak.
Sales fell by 15 percent to SEK 91.4 billion in the past period, or nearly 8.4 billion euros. Profits went down. Volvo is also engaged in construction machinery and industrial equipment.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.