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Filed under: China, Crossover, Volvo

Volvo has posted a solid first quarter, with earnings jumping to $103 million. That's nearly double the Q1, 2010 totals, in part due to continued strong demand for its XC60 crossover. The Geely-owned automaker expects the revenue to continue to flow throughout 2011, as the automaker is hoping to increase sales by 70,000 units on the year to 450,000 units.



Volvo has also announced total earnings for calendar year 2010. The automaker says it earned $370 million on the year, again in part because of strong XC60 sales and the successful launch of the S60. High commodity prices weighed down earnings a bit, but the automaker says strong net pricing largely offset the rising price of energy and steel.



Hit the jump to read over Volvo's 2010 earnings press release.

Continue reading Volvo earns $103M in Q1, $370 million for CY 2010

Volvo earns $103M in Q1, $370 million for CY 2010 originally appeared on Autoblog on Thu, 12 May 2011 18:01:00 EST. Please see our terms for use of feeds.

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