The Business Times

Volvo

Transport & Logistics

Volvo car profit unexpectedly rises on cost-cutting success

Operating income rose to 6.4 billion kronor, well above analysts projections

Tariffs and past development setbacks have weighed on profitability and sales of its battery-powered models, the EX90 sport utility vehicle and ES90 sedan.
Transport & Logistics

Volvo Car posts US$1 billion loss over impairment, tariffs

The automaker’s retail sales plunged 12% to 181,600 vehicles in the second quarter

Development delays and duties in the US have hit two of Volvo’s battery-powered models, the EX90 sport utility vehicle and ES90 sedan.
Transport & Logistics

Volvo takes 11.4 billion Swedish kronor charge over tariffs and EV model delays

Carmaker is also struggling to attract EV buyers in the highly competitive Chinese market

“The automotive industry is in the middle of a challenging period. To address this, we must improve our cash flow generation and structurally lower our costs,” Volvo Cars CEO Hakan Samuelsson said.
Global Enterprise

Volvo Cars to cut 3,000 jobs in restructuring

The layoffs represent around 15% of the company’s office staff

Volvo Cars, which is majority-owned by China’s Geely Holding, said it remained committed to creating 4,000 jobs in South Carolina and that it still planned to boost output there in the future.
Transport & Logistics

Volvo Cars to cut 5% of jobs at South Carolina plant as tariffs bite

The changes would affect about 125 of the 2,500 employees at its factory in South Carolina

Volvo Cars is juggling the task of working with Geely to cut costs while attempting to keep selling cars to US consumers, who favour hybrids and combustion-engine models.
Transport & Logistics

Volvo Cars sales fall 11% in April as fully electric cars slump

Sales of fully electric cars fell 32% to account for 20% of total sales volumes

The cost cuts, part of a new “cost and cash action plan”, will include layoffs and a larger decrease in investment than earlier expected, the company says.
Transport & Logistics

Volvo Cars to cut costs by 18 billion Swedish crowns as earnings drop

The company is majority-owned by China’s Geely

Trump has upended the global trading system that has been in place for over 75 years with a plan for tariffs on products from across the world.
Transport & Logistics

Volvo to cut up to 800 US jobs as Trump’s tariffs bite

The company employs nearly 20,000 people in North America

Volvo Cars says sales in Europe were down 9 per cent, while in the United States and China they were down 8 per cent and 22 per cent, respectively.
Transport & Logistics

Volvo Cars sales fall 10% in March as fully electric sales dive

Sales of fully electric cars fell 26% to account for 19% of total sales

Volvo's new electric car ES90 is displayed at an event at Artipelag outside Stockholm, Sweden.
Transport & Logistics

Volvo unveils China-made electric sedan as tariff tensions rise

The car can drive 700 kilometres before needing to recharge

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