US EditionVolvo Cars to Book $1.2bn Charge on Tariffs and Launch Delays
VÄSTRA GÖTALAND COUNTY, SWEDEN, JUL 17 – Volvo's $1.2 billion charge reflects setbacks from delayed launches and tariffs, with a 12% drop in Q2 car sales and a sharp profit decline, CEO says efficiency program is underway.
- Thursday’s results showed a $1.2 billion impairment charge sent Volvo Cars into a second-quarter loss.
- Impairment causes include launch delays for the EX90, Fredrik Hansson said, and U.S. import duties have made the ES90 unprofitable.
- The company reported an operating loss of SEK 10.0 billion, net sales dropped 8% to SEK 93.5 billion and vehicle sales fell 12% to 181,600 units.
- Shares jumped over 7% at the Stockholm open, as the company recorded a SEK 1.4 billion restructuring charge tied to 3,000 job cuts.
- Future EV models will leverage the EX90 and ES90 architecture, and the EX60 will start production in Sweden in 2026.
83 Articles
83 Articles
Volvo Cars, the Swedish car brand, has announced a marked decline in its adjusted operating profits during the second quarter.The news, reported by Marie Mannes and edited by Stine Jacobsen, highlights the pressure that tariffs are exerting on the demand for its products.This situation has created an environment of uncertainty for the company that seeks to remain competitive in the current economic landscape.The impact of tariffs on demandAccord…
Volvo Cars releases its results for the second quarter. DN's Jonas Fröberg answers three questions.
Volvo Cars swings into loss on EVs, tariffs
STOCKHOLM - Volvo Cars announced on Thursday it had swung into loss in the second quarter, after it took an impairment charge for its electric cars, booked restructuring charges and dealt with a slower, tariff-troubled market.
Volvo Cars' Q2 operating profit beats expectations
Volvo Cars today reported a sharp decline in second-quarter operating profit that nonetheless exceeded analyst expectations, sending shares up, though the company continues to face headwinds from tariffs and softening demand.
TechXplore
Volvo Cars swings into loss on electric vehicles, tariffs
Volvo Cars announced on Thursday it had swung into loss in the second quarter, after it took an impairment charge for its electric cars, booked restructuring charges and dealt with a slower, tariff-troubled market.
Coverage Details
Bias Distribution
- 46% of the sources are Center
To view factuality data please Upgrade to Premium
