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Sweden's Volvo Cars post rise in second-half profit as pandemic impact subsides


2 Min Read
STOCKHOLM (Reuters) - Volvo Cars has not suffered from the global semiconductor shortage, but risks linger, its chief executive said on Thursday as the Sweden-based company reported an 8.2% rise in second-half operating earnings.
FILE PHOTO: An employee at a Volvo car dealer, wearing a protective mask is seen in the showroom, amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium May 28, 2020. REUTERS/Yves Herman
Volvo, has seen a sharp rebound boosted by growing demand for electric cars, but several automakers have been forced to cut production lately, due to semiconductor shortages.
CEO Hakan Samuelsson said the company, which is owned by China’s Geely Holding, had not seen any lost volume due to the shortage, adding the next four weeks had been secured. ....

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