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2022 Volvo worldwide sales reached 615,000 vehicles for $31.7 billion USD revenue. Unit volume was down 12% year over year. Revenue was up 1%, but profit was down due to an increase in cost of 6%.
2021 profit soared because cost dropped faster than revenue. This created short term gains, but was not sustainable. Long term gains are achieved by steady increases in revenue and cost. We converted Swedish Krona to US Dollars for this Volvo global sales report using conversions rate from December 31st of each year listed. The profit displayed is gross profit after the cost of materials is subtracted, but before administrative fees. |
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