Daimler, Volvo Post Surprise Profits on Shaky Auto Reprieve
- European car sales rise for the time this year in September
- Momentum will be hard to maintain as virus infections flare up
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Daimler AG and Volvo Group posted unexpected profits, and European car sales rose for the first time this year, in a tentative sign that the pandemic gloom is lifting for the auto industry.
After coronavirus lockdowns in the second quarter, roads are filling up again with trucks, and cars are in demand as a safe mode of transport. While that’s fueling optimism, it will be a struggle to maintain the momentum as a record surge in infections increases the risk of tighter restrictions on movement.