Business

Volvo Cars Out of the Red

For the first time in three years, the Swedish car maker Volvo report a profit, according to Swedish Radio News. The first quarter of this year the company made a 48.5 million US dollars pre-tax profit. During the period, Volvo Cars sold 92.000 cars, which is more than 30 % better than the same period last year.

According to the company CEO Stephen Odell, Volvo is currently recovering a little faster than the rest of the car industry.

Over the last 3 years, Volvo has lost some 2,35 billion US dollars, and the owner Ford has been negotiating to sell its Swedish subsidiary.

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