Volvo Car AB (publ) (OTCPK:VLVOF) Q3 2023 Results Conference Call October 23, 2024 2:00 AM ET
Company Participants
Ronojoy Banerjee – Communications Lead Finance
Jim Rowan – CEO, President & Director
Johan Ekdahl – Chief Financial Officer
Conference Call Participants
Pushkar Tendolkar – HSBC
George Galliers-Pratt – Goldman Sachs
Hampus Engellau – Handelsbanken
Jose Asumendi – JPMorgan
Agnieszka Vilela – Nordea
Ronojoy Banerjee
Good morning and a warm welcome to the presentation of our Third Quarter Financial Results. We’re coming to you from our headquarters in Gothenburg. My name is Ron, I work in Communications. And as always, I’m joined this morning by our Chief Executive, Jim Rowan; and our Chief Financial Officer, Johan Ekdahl.
Like we do on these calls, at the job, Jim in Johan, will walk us through our performance during the last 3 months after which we’ll throw it open for a Q&A. [Operator Instructions] But I’ll come back with more information closer to the call.
But for now, I hand the floor to you, Jim.
Jim Rowan
Thanks, Ron. Good morning, and welcome to our third quarter financial results. During the last 3 months, we maintained our operational momentum and demonstrated resilience, even though we are now confronted with a much more turbulent external environment.
Let me walk you through the highlights from the quarter. Our retail deliveries increased by 3% during the third quarter, and we grew faster than our premium peers. We took market share in Europe and in an increasingly competitive environment drove our market share from 1.7% in Q3 last year to 2.4% now. This was made possible by the performance of our balanced portfolio of cars.
The EX30 continues to be among the top 3 selling EVs in Europe, while XC60 remains the best MMP had in the region and has
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