Volvo Cars posts strong earnings on record sales

Swedish carmaker Volvo Cars, owned by Chinese group Geely, said Wednesday it posted a healthy profit rise in 2016, boosted by record sales and stronger finances. "I foresee that 2017 will also be a record year in terms of sales," said chief executive Hakan Samuelsson. Volvo has made a remarkable comeback since 2010, when the loss-making carmaker was taken over by Chinese group Geely.