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Swedish Swedish volvo’s carrs on Tuesday announced The cost-up plans ($ 1,87 billion) and retire the financial driving as their operating profit has been sudden in the first three months of the year.
Volvo cars, who is owned by China, the first contrary of the first quarter of 1.9 billion Krona, up to 4.7 Billion Krona at the same period last year.
Its margin on earnings prior to the interest and tax (exit) to the 2.3% 5% a year before the first train, in the first fourth Krona on the same 2024.
The company said the results reflect a drop in the paths as part of an adverse inventory inventory reduction in adverse effects of the adverse industry.
Volvo cars say its “cost and cash action plan” included a reduction in investments and redundans through the globe. The company has not provided more information on the potential lane scale of the Layoffs but he said the “as soon as possible”.
Volvo cars said it is no longer providing the financial guidance either 2025 and 2026, mention the fee pressure in the automotive sector.
“There’s a head rather in the market” of the CEO’s Market Hingkan Samuelsson said to Europe before CNBC “in a Tuesday interview.
“There is a drop of flying, and on this intended competition, the nine numeric in the electric segment, but also informed prices. And then they are very difficult
Samuelsson added that the company has been focused on what can control via the package of cost action.
Dolvo vehicles of vehicles fell as 10% Tuesday, before you park some of their losses. The company was last track of the lower trade on lower.
Volvo’s cars car calls off US trade deal
In their behavior of the
US President Donald Trump set 25% fees on imported cars to the United States before this month. The white house also said to put the fees on some auto beaks as the motors and transmissions, who are fixed to have later than 3 May.
“We see along, we need, of course you are returned to the love, this is to be very difficult for the company in the US:” Samuelss’s.
Beside more cars in place, Samuelsson said that automobile is explored how to outline their caroline factory carolina.
“We are using our charleston factory. So we need a US market so we need fees for. Thus, it’s really constitron,” Samuelss’s said.
Staring volvo sales “electric cards,” that defines as a vehicle with a loading cord, hit the first quarter. It she fuck For category to represent 90% to 100% of their global sales volume for 2030.
