Geely-owned Volvo Cars has reported first half monetary results severely dented by the impact of the COVID-19 crisis, but expects its enterprise to recover within the second half of the year as automotive markets ‘normalise’. The firm recorded an working loss of 989 million SEK over the first six months of 2020, as revenue fell by 14.1 per cent to 111.eight billion SEK. Hyundai Motor on Thursday introduced second quarter profit for 2020 fell 75% on yr, the steepest in seven quarters and lacking analyst estimates, as weak world demand due to the pandemic overshadowed gross sales of high end models in South Korea.

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