Volvo receives order for 100 e-trucks from DFDS
The trucks will be of the updated and more energy-efficient models of Volvo FH Electric and FM Electric, the company said.
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Italy's Iveco Group sees 20% revenue growth to 2028, eyes partnerships
The company said its net revenues from industrial activities would rise to around 19 billion euros (USD 20.8 billion) in 2028 from 15.877 billion euros last year. It sees its margin on adjusted operating profit (EBIT) from industrial activities increasing to between 7% and 8%, from 5.2% in 2023.
Volvo EX30 has lowest carbon footprint of any fully electric Volvo car to date
Using wind-based electricity to charge the EX30 substantially reduces the carbon footprint compared to global or European electricity mixes, by approximately 42% and 22% respectively.
Self-driving sensor maker Luminar falls as production delay at Volvo hits earnings
The company had shifted its manufacturing and engineering resources to prepare for the start of production for the cars moved to 2024 from the originally scheduled 2023-end, weighing on sales of its sensors. "The EX90 production delay is likely to last until mid-2024. Volvo is targeting customer deliveries of the EX90 in late 2024," said Jaime Perez, analyst at R.F. Lafferty Equity Research.
Expect faster adoption of EVs in luxury car segment: Volvo
"The EV penetration in the overall passenger vehicle segment is nothing, about 2 per cent, while in the luxury segment it is 7 per cent. So, adoption of EVs in the luxury segment will be faster," Volvo Car India Managing Director Jyoti Malhotra said.
Volvo India sees EVs accounting for a third of its sales
The shift towards EVs is in line with Volvo's aim to become a fully electric car company by the end of the decade. "The vision for Volvo is very clear: by 2030, Volvo is heading towards becoming an electric car company. This is exclusively centred around battery electric vehicles," Malhotra told media persons.
Volvo Cars introduces upgrades to fully electric and hybrid cars with new model names
The fully electric XC40 Recharge and C40 Recharge models are renamed to EX40 and EC40 respectively, now seamlessly fitting in with our other fully electric models: the EX30, EX90 and EM90. The XC40 name remains for internal combustion-powered variants of the model, the company said.
Volvo Car India rolls out 10’000 cars from its Bengaluru facility
It was in 2017 that the company commenced assembly operations with the popular XC90 being the first car to be assembled and rolled out. Till date the highest production has been of the XC60 with over 4000 units, the company said.
Volvo Cars sees 'tremendous growth' in EVs, CEO says
The carmaker, which aims for electric vehicles (EVs) to contribute half its sales volume by mid-decade and to sell only EVs by 2030, said the growth in demand for its premium brand was stronger than that of mass-market rivals.
Tesla shares drop on plant shutdown due to Red Sea attacks
The company reduced starting prices of the Model 3 sedan by 5.9% to 245,900 yuan ($34,300) and marked down the Model Y sport utility vehicle by 2.8% to 258,900 yuan, according to its website.
Volvo Car India 2023 sales up 31% to 2,423 units
The locally assembled all-electric XC40 Recharge performed exceptionally well, with 510 units sold during this period. Additionally, the XC60, the top-selling model, witnessed a significant surge, resulting in 921 deliveries in 2023. C40 Recharge has also shown great response and accounts for 180 units within a short period in 2023, the company said.
Construction in top gear, equipment sales eye new highs
Sales of construction equipment have risen by nearly a fifth since April and are likely to close the year at 125,000-130,000 units, breaching the previous peak of 107,779 units in FY23, said Dimitrov Krishnan, head of Volvo CE India. Prior to this, construction equipment makers had reported record sales of 98,000 units in the prepandemic year of FY19.
Owner of former Volvo truck plant in Russia relaunches production
Volvo suspended all sales, service and production in Russia in February 2022, and said in October 2022 that further write-downs might be necessary. In 2021, Russia accounted for about 3% of its net group sales of about 372 billion Swedish crowns (USD 36.18 billion).
Volvo Car India to increase prices up to 2% from January
Volvo Car India has announced a price increase of up to 2% starting January 1, 2024, citing escalating input costs and volatile foreign exchange rates. Managing Director Jyoti Malhotra stated the adjustment reflects market changes and aims to uphold quality and safety standards while delivering optimal driving experiences. Since its inception in 2007, Volvo has expanded through 24 dealerships across India.
Volvo Cars aims to cut CO2 emissions per car by 75% by 2030
This is in addition to its ambition to become climate neutral by 2040, and to reduce CO2 emissions per car by 40% between 2018 and 2025. During the first nine months of 2023, overall CO2 emissions per car were 19% lower than its 2018 benchmark, the company said.
Volvo India aims to have 50% vehicles to run on non-fossil fuel by 2030: Official
"At Volvo, we have set target that by 2030, 50 per cent of our vehicles will be non-fossil fuel-based. They will be non-polluting. Balance 50 per cent will become non-zero emission by 2040," Volvo Group President and Managing Director in India Kamal Bali said.
Commercial vehicle segment set for growth with expanding economy: VECV MD
The domestic commercial vehicle industry is expected to reach its peak sales volume of 2018-19 this fiscal and grow briskly over the next few years, coinciding with the overall economy's growth. Heavy-duty truck sales have grown by 15% in the first seven months (April-October). The economy is expected to cross the USD 5 trillion mark, and new age customers like e-commerce companies seek better turnaround time, leading to the replacement of old trucks with new ones.
Volvo discontinues XC40 in India, will continue to sell all-electric version
Volvo has discontinued the petrol version of its XC40 SUV in India, as part of its goal to become a fully electric brand by 2030. The company will continue to sell the all-electric XC40 Recharge in the country, which was launched in 2022 and is priced at INR 56.90 lakh.
Swedish EV maker Polestar trims 2023 delivery forecast, halves margin target
Polestar, which operates in 27 markets globally, said it would now deliver about 60,000 vehicles this year, down from between 60,000-70,000. It had reiterated that forecast just last month after slashing the target in May from the 80,000 it had estimated earlier.
Volvo Cars' sales of fully electric vehicles jump in October
Shares in the group, which is majority-owned by China's Geely Holding, were up 6% in morning trade, taking the year-to-date drop to 12%.
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