Volvo Cars switches gears in the U.S. as Trump’s tariffs bite
Volvo automobiles that had been seen exterior the Volvo Company in Edmonton, AB, Canada, on February 02, 2025.
Norfuto Norfuto Gety photos
The shares of the Sweden -based Volvo Vehicles firm elevated by greater than 10 % on Thursday, as expectations within the basic revenue within the second quarter of the corporate received a pointy lower on an annual foundation.
Volvo automobiles, owned by Chinese language Geely Holding, on Thursday I mentioned The working revenue decreased within the second quarter, apart from the weather that have an effect on the comparative capability to 2.9 billion Swedish chips ($ 297.83 million), a lower from 8 billion throughout the identical time final yr.
The second -quarter revenues decreased to 93.5 billion kronor, in comparison with 101.5 billion kronor throughout the identical interval in 2024.
The Volvo automobiles, that are broadly thought of as one of the vital European auto producers uncovered to American definitions, mentioned the consequence displays a steady troublesome setting for the auto trade. The corporate mentioned it was additionally affected It was previously announced One time, a non -cash weak point of 11.4 billion kronor.
JPMorgan analysts mentioned in a analysis word that the Volvo Carrs numbers within the second quarter had been nonetheless higher than anticipated.
The final time was seen on the share of Volvo buying and selling by 10.5 %. The inventory worth stays about 18 % on an annual foundation.
The second quarter income come shortly after Volvo automobiles Firing It plans so as to add the very best -selling XC60 sports activities automobile to the US automobile manufacturing unit manufacturing line in Ridgeville exterior Charleston in South Carolina.
The manufacturing of XC60, which was the very best gross sales of the corporate on the earth for years, is scheduled to begin within the manufacturing unit in late 2026.
In the meantime, Volvo Vehicles began withdrawing sedans and plant autos from their American wallets in a dangling curiosity, Reuters mentioned Thursday. This comes as 27.5 % American definitions on European -made automobiles and 100 % on China’s EVS, which has compelled automobile producers to assessment their product methods.
The CEO of Volvo Vehicles Håkan Samuelsson mentioned the corporate “definitely” no withdraws from the USA market, because it has been 70 years in the past.
“What we do is before everything, we need to fill our manufacturing unit in South Carolina,” Samuelson advised CNBC.Europe early edition“Thursday.
Second, in fact, now with definitions, it is rather pure to convey a [car model with] Nice sale quantity. We come within the XC60 SUV. “
2025-07-17 08:04:00
