Klaus Zellmer, whose Škoda brand posted profit margins that rival those of BMW and Mercedes, will replace Håkan Samuelsson as Volvo pushes new models.
Volvo Car AB (publ.) (VLVCY) Analyst/Investor Day Transcript
In its largest-ever product push the carmaker will roll out seven new car models for Western markets and six for China by the end of the decade.
Global sales fell 7.4% on year in the quarter, with demand hit by continuing market challenges in the U.S. and China.
Sales in the U.S. increased for the third consecutive month, rising by a double-digit percentage while European deliveries remained steady with moderate growth.
Volvo Car AB (publ.) (VLVCY) Q2 2026 Earnings Call Transcript
Volvo Car expects growth in Europe and a recovery in the U.S. to spur significantly stronger sales in the second half of the year, despite continued challenges in China.
Swedish truckmaker Volvo Group reported on Friday a rise in second-quarter operating profit that roughly matched expectations as sales rose, and said its truck order intake increased by 33% from a year earlier.
Sweden's Volvo Cars on Friday reported a decline in profits for the second quarter compared with the first three months while the automaker hopes to speed up its recovery with deliveries of the new EX60 electric model in the time ahead.
At the same time, it cautioned that cost inflation is trending upwards, with the CFO saying the company was starting to see an impact on raw material costs from the Middle East conflict.
Sales in China remain under pressure due to the highly competitive industry landscape and challenging macro environment, the company said.
Volvo Cars reached an agreement with the Trump administration that exempts the automaker from a U.S. crackdown on Chinese-connected vehicle technology.