Volvo Cars’ adjusted operating profit rises in first quarter on lower costs

Volvo Car AB is a car brand based in Sweden. Volvo Car Group focuses on the design, engineering, manufacturing, distribution and marketing of passenger cars, with an emphasis on sustainability, fully electric vehicles and direct relationships with consumers, including registration and other new mobility services. The market that Volvo Car Group covers is the main international market for passenger cars. Additionally, the company intends to be an electric car company only and, therefore, is in the process of changing its business model to a direct sales model in most of its markets. Volvo Cars’ commitment to electrification also includes the launch of Polestar, an exclusive electric performance car brand, in which Volvo Cars has a stake. Volvo Cars also has a stake in the LYNK&CO car brand, which targets young, open-minded urbanites by offering a dynamic customer offering.