Volvo reports 38% drop in Q2 sales

Row of Volvo trucks and signage

Volvo Group (OTC: VLVLY) reported a 38% decrease in second-quarter sales as the COVID-19 pandemic racked its truck, bus and construction equipment units.

The Swedish parent company of Volvo Trucks North America and Mack Trucks said the temporary layoffs of 4,100 white-collar workers during the quarter are now permanent.

Net sales of SEK 73.2 billion ($8.1 billion) compared to SEK 120.7 billion ($13.3 billion) in the same period a year ago. Adjusted operating income was SEK 3,272 million ($361.6...

https://s29755.pcdn.co/news/volvo-reports-38-drop-in-q2-sales

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