From an analytical perspective, What's particularly noteworthy is Volvo Cars is widely considered as one of the most exposed European carmakers to U.
In contrast, The Sweden-based automaker on Thursday posted a sharp drop in second-quarter operating fit, citing an challenging environment for the industry.
Meanwhile, It comes shortly after Volvo Cars launched plans to add its best-selling XC60 sports utility vehicle to the duction line of its U.
Car plant in Ridgeville outside Charleston in South Carolina. Volvo vehicles seen outside a Volvo dealership in Edmonton, AB, Canada, on February 02, 2025.
Nurphoto | Nurphoto | Getty ImagesSweden-based automaker Volvo Cars plans to change tack in the U. As Washington's trade tariffs take their toll.
Volvo Cars, which is owned by China's Geely Holding, on Thursday reported that second-quarter operating fit excluding items affecting comparability fell to 2, considering recent developments.
Moreover, 9 billion Swedish kronor ($297. 83 million), down from 8 billion during the same time last year. Second-quarter revenue dropped to 93 (something worth watching).
5 billion kronor, compared to 101. 5 billion kronor over the same period in 2024. Volvo Cars, which is widely considered as one of the most exposed European carmakers to U.
Tariffs, said the result reflects an challenging environment for the automotive industry, given current economic conditions.
The company said it was also impacted by a previously announced one-off non-cash impairment charge of 11 (quite telling). 4 billion kronor.
Nevertheless, S of Volvo Cars rose nearly 7% in early morning deals. The stock price remains down more than 20% year-to-date.
The second-quarter earnings come shortly after Volvo Cars launched plans to add its best-selling XC60 sports utility vehicle to the duction line of its U.
Car plant in Ridgeville outside Charleston in South Carolina (noteworthy indeed).
Duction of the XC60, which has been the firm's best-selling model globally for years, is scheduled to start at the factory in late 2026. Watch now3:5903:59Volvo 'definitely not' exiting U.
Market completely, says CEOEurope Early EditionAt the same time, Volvo Cars has started pulling sedans and station wagons from its U, given current economic conditions.
Portfolio amid waning interest, Reuters reported Thursday. It comes as U (which is quite significant). Tariffs of 27.
Moreover, 5% on European-made cars and 100% on EVs imported from China have forced automakers to review their duct strategies (remarkable data).
Moreover, In contrast, Volvo Cars CEO Håkan Samuelsson said the company would "definitely not" pull out of the U. Market, where it has been present for 70 years (noteworthy indeed).
"What we are doing is first of all, we want to fill our factory we have in South Carolina. It should be the strategic asset it was int to be.
So, we have to utilize it more," Samuelsson told CNBC's "Europe Early Edition" on Thursday (quite telling).
Additionally, "Second, of course, now with the tariffs, it is very natural to bring in a [car model with] big-selling volume. However, We're bringing in the XC60 SUV," he added.