Full-year profitability was at record highs despite supply chain woes in Q4 for Swedish automaker, Volvo. The company protected its margin by increasing prices as supply issues set in. Despite their total retail sales going down 20% for Q4 their year end margin was 7.2% (Up from 3.2% in 2020 and 5.2% in 2019).
Volvo CFO, Bjorn Annwall, is looking ahead to increased sales for 2022, but believes the chip crunch will be a restraining factor in the first half of the year that lingers into the second half.
Telling it like it is — Protect profits by increasing price. And for their next trick they will cure their thirst by having a glass of water.