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Volvo Cars to Cut 2,500 Jobs After Quarterly Loss

By admin October 23, 2026 No comment

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Volvo Cars has announced plans to cut 2,500 jobs globally as it faces mounting financial pressure from weak demand, US tariffs and intense competition from Chinese automakers. According to Reuters, the Swedish carmaker reported an adjusted operating loss of 3.7 billion Swedish crowns ($373 million) in the third quarter of 2026, compared with a profit […]

Volvo Expects Recovery Despite China Slump

By admin July 17, 2026 No comment

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Volvo Cars expects a stronger second half of 2026 despite reporting weak second-quarter results driven by a sharp slowdown in China and rising production costs. The Swedish automaker posted an operating profit of $82.8 million for the April–June period, but its shares fell around 8% after the results were announced. Sales in China, the world’s […]

Europe EV Sales Surge as Fuel Prices Spike Amid Iran Conflict

By admin May 20, 2026 No comment

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Electric vehicle demand across Europe has jumped sharply as soaring fuel prices linked to the Iran conflict push consumers toward electric mobility. According to data shared with Reuters, registrations of new EVs across major European markets rose 34% year-on-year in April, while demand for both new and used electric cars surged significantly. Industry players said […]