Volvo Car AB reported better-than-expected profit in the third quarter as the automaker benefited from the effects of its 18 billion-kronor ($1.9 billion) cost-saving program.
Operating income rose to 6.4 billion kronor, the company said Thursday, well above analysts projections. The earnings before interest and tax margin also improved in the period. That’s even as Volvo’s car sales are down 8%Bloomberg Terminal this year through September.