Q2 operating profit (excl. JVs and associates) was SEK 8.2 bn, up 28 per cent vs Q2 2023 Q2 operating profit was 8.0 bn SEK, up 60 per cent vs Q2 2023 Q2 EBIT margin (excl. JVs and associates) was 8.1 per cent, vs 6.3 per cent in Q2 2023 Q2 EBIT margin was 7.9 per cent, vs 4.9 per cent in Q2 2023 Q2 revenue was 101.5 bn SEK, vs 102.2 bn SEK in Q2 2023 Q2 basic earnings per share was 1.79 SEK, vs 1.12 SEK in Q2 2023 Q2 electrified share of sales at 48 per cent, vs 39 per cent in Q2 2023 Q2 fully electric car sales share at 26 per cent, vs 16 per cent in Q2 2023 GOTHENBURG, Sweden, July 18, 2024 /PRNewswire/ -- Volvo Cars today reports an operating profit (EBIT), excluding joint ventures and associates, of SEK 8.2 billion for the second quarter of 2024, the highest-ever in a single quarter and an increase of 28 per cent versus the same period in 2023. The corresponding core EBIT margin reached a record high of 8.1 per cent, versus 6.3 per cent in the same period last year. This improvement in the underlying profitability was a result of the company's focus on pricing discipline, internal cost control and sustained growth in sales. During the quarter, global retail sales rose by 15 per cent year-on-year to 205,400 cars. This was driven by the performance of the company's electrified cars – both plug-in hybrids and electric cars – sales of which grew by 43 per cent in the second quarter, versus the same period last year. 48 per cent of Volvo Cars' global sales volume during the quarter consisted of plug-in hybrid (PHEV) and fully electric (EV) cars, while its EV-only share of sales rose to 26 per cent. The strong demand for the company's electrified cars was demonstrated by the EX30 small SUV, which was among the top three best-selling EVs in Europe, while the XC60 plug-in hybrid continues to be the best-selling PHEV in Europe in recent months. The EX30 has proved popular with customers in Europe and other markets. This has been reflected in Volvo Cars' gross margins, which increased to 22.8 per cent from 19.0 per cent last year. Gross margins on its EVs ...