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Volvo Cars August-October sales volumes down 16% year-on-year
Volvo Cars August-October sales volumes down 16% year-on-year
Volvo Cars said Friday it plans to cut 2,500 jobs after a sharp decline in its Chinese market weighed on third-quarter earnings.
The Swedish automaker reported an operating loss of 5.6 billion Swedish kronor ($563.7 million) in the third quarter, down from an operating profit of 6.4 billion Swedish kronor in the previous period.
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Volvo said good momentum in North America and Europe helped deliver solid earnings during the third quarter with the truckmaker planning to gradually increase production.
Volvo Car plans to slash another 2,500 jobs as cratering sales in China and tariffs in the US complicate the Swedish automaker’s turnaround.
Volvo Cars CEO Sees Limited Scope for China Improvement Until Six China-Specific Models Arrive
Volvo Cars Commercial Chief Says Company Must Be Selective About Where It Competes in the US
Volvo Cars CEO Leaves Door Open to Additional Measures, Will Evaluate Results in February
Volvo Q3 Adjusted Operating Profit Comes in at SEK 14.69 Billion; Truck Order Intake Beats Forecasts
VOLVO CARS IS EXPANDING ITS PARTNERSHIP WITH NVIDIA $NVDA ON SELF-DRIVING TECH
Future Volvos will use Nvidia's hardware and software to drive door to door, per Volvo Cars.
- Covers highways, busy city streets, and parking
- Uses Nvidia's Hyperion sensors and computer, Halos OS, and Alpamayo driving software
- Debuts in a next-generation Volvo car
- "Eyes-off" and "mind-off" driving will roll out gradually
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