Kiev. Ukraine. Ukraine Gate – February 04, 2021 \u2013 Auto<\/p>\n
Sweden’s Volvo Car Group reported 8.2% revenue growth in the second half of 2020, fueled by growing<\/a> demand for electrified vehicles and the recovery from the COVID-19 pandemic.<\/p>\n <\/p>\n The Swedish automaker, hit hard by the coronavirus outbreak earlier this year, has rebounded sharply in recent months, boosted by increased sales in China and the US.<\/p>\n <\/p>\n Thus, sales in the second half of 2020 were the highest in the history of the company. Volvo Cars, owned by China’s Geely Holding, said it will increase sales this year and boost profitability to pre-pandemic levels, provided market conditions continue to normalize.<\/p>\n <\/p>\n The firm also projects Capex levels similar to 2020, while maintaining<\/a> high cash flow.<\/p>\n <\/p>\n The Gothenburg-based automaker reported profits of SEK 9.50 billion ($ 1.1 billion) in July-December, up from 8.78 billion a year earlier. The company said Wednesday that its global sales rose 30.2% in January to 59,588 vehicles in both Europe and China and the United States.<\/p>\n