Volvo Cars' core operating profit rose in the first quarter thanks to higher retail sales

The all-electric Volvo EX30 is on display during the Everything Electric London 2024 exhibition at ExCel on March 28, 2024 in London, England.

John Cable | Getty Images News | Getty Images

Swedish automaker Volvo Cars on Wednesday reported a slight rise in first-quarter core operating profit driven by strong retail sales.

Underlying operating profit in the first quarter was SEK 6.8 billion ($629 million), an increase of 8% year-on-year. This figure does not include joint ventures and associates.

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