Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Volvo cars, noticed outside the Volvo dealer in Edmantan, Oh, Canada, February 02, 2025.
Nurphoto | Nurphoto | Gets the image
Sweden Volvo Cars is planning to change TACK in the US, as shopping tariffs in Washington accept its own.
Volvo Cars owned by China Geely Holding, Thursday report This profit in the second quarter, with the exception of the comparative items, decreased to 2.9 billion Swedish crane ($ 297.83 million), which is compared to $ 8 billion at the same time.
The revenue in the second quarter decreased to 93.5 billion kronar, compared to 101.5 billion kronar over the same period in 2024.
Volvo Cars, which is widely regarded as one of the most open European car manufacturers for the United States, said the result reflects a permanent complex setting for the automotive industry. The company stated that it also affected Previously announced A one -time fee for non -cash violations of 11.4 billion kronar.
Volvo Cars shares grew by almost 7% in the early morning deals. The cost of the stock remains a decrease in more than 20% in the fields.
Profit in the second quarter comes soon after the Volvo cars launch It is planned to add its best -selling XC60 sports vehicle to the production line of the US Automobile Plant in Ridgewill outside Charlestan in South Carolina.
It is planned that the production of the XC60, which was the most sold model of the firm, is planned to start at the factory at the end of 2026.
At the same time, Volvo Cars started pulling out sedan and station wagons from its portfolio in the US amid a decrease in interest, Reports Reuters Thursday. This happens when US tariffs make up 27.5% on European cars and 100% on EV, which were imported from China, forced automakers to revise their products.
The CEO of Volvo Cars Håkan Samuelsson said that the company “will definitely leave the US market, where it has been present for 70 years.
“What we do is, first of all, we want to fill our plant we have in South Caroline. It must be a strategic asset it was to. So we should use it more,” said Samuelson CNBC “”Europe Early edition‘Thursday.
“Secondly, of course, now with tariffs, it is very natural to bring (the model of the car with) a large sales. We bring the SUV XC60,” he added.
