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🦘🌍🇨🇳Swedish Volvo Cars' sales grew 10% year-over-year in April following a demand jump in the Chinese market. Nearly 52K worldwide sales saw a 46% increase in China, a 5% increase in Europe, and a 4% decrease in the US. 17% of total sales were fully electric.
📈🍪🚢Stallantis posted a 14% annual rise in Q1 revenue. Easing semiconductor supply chain pressure helped the company's brands, like Jeep and Dodge, boost shipments by 7% compared to Q1 2022.
🏀🧊🔋Ford's Q1 $1.7B profits were a fortunate rebound from 2022's $3.1B net loss. Broken down the company's revenue was overwhelmingly brought in by Ford Blue, the ICE part of the company. While the automaker's electric unit lost $700M, the ICE business made $2.6B before taxes.
📉🤕🚴♀️Porsche Taycan had a 3% delivery decline in Q1 year over year but a 73% decline compared to Q4 2022. The company says Taycan production will get a "very steep ramp-up." In an earnings call, Porsche CEO said he is confident the company will reach between 12% and 14% electrification this year.