Volvo reports profit

Volvo Cars has reported an operating profit margin of 7.3 per cent, down from 7.5 per cent on last year. Profitability was partly offset by costs related to the launch of the new 90 series cars and the new XC60, as well as continuous investments in new technologies and a rising number of employees. The S90 sedan and V90 wagon scored the maximum of five stars  and both were ruled the safest cars ever with 95 per cent for adult occupant protection, 80 per cent for child occupant protection and 76 per cent for pedestrian protection. The vehicle has also received a maximum six points in the autonomous emergency braking for pedestrians test, which was the first time a carmaker has ever received this high a mark.  The XC60 has just rolled off the production line this week and replaces the original XC60, which was the bestselling premium mid-sized SUV in Europe with nearly a million units sold throughout the world. "In the first three months, we have seen strong demand for our 90 series cars as they reached markets worldwide,” says Håkan Samuelsson, Volvo president and chief executive. “We also unveiled the new XC60 in the first quarter and we expect this car to have a positive impact on sales and profitability.”