Volvo CEO wants EU to cut 'unnecessary' auto tariffs to defuse Trump threat
The chief executive of Volvo Cars urged the European Union to cut its 10% tariff on American-made cars, arguing that European automakers do not need protection from U.S. competitors, in an interview with Reuters on Thursday.
Sweden's Volvo Cars switches gears in the U.S. as tariffs bite
Volvo Cars is widely considered as one of the most exposed European carmakers to U.S. tariffs. The Sweden-based automaker on Thursday posted a sharp drop in second-quarter operating profit, citing an ongoing challenging environment for the industry.
Volvo 'definitely not' exiting U.S. market completely, says CEO
Håkan Samuelsson, CEO of Volvo, discusses the automaker's half-year earnings and explains the impact of tariffs on the business.
Volvo Cars books $1 bln impairment charge due to launch delays, tariffs
Sweden-based Volvo Cars will book a one-off, non-cash impairment charge of 11.4 billion Swedish crowns ($1.19 billion) in the second quarter, it said on Monday.
Volvo Cars sales fall 12% in May
Volvo Cars sold 59,822 cars in May, down 12% from a year earlier, the Sweden-based company said on Wednesday.
Volvo to cut 3,000 jobs amid Trump tariff fight
Volvo is looking to lower costs by cutting thousands of jobs, they announced on Monday. Most of its production based in Europe and China.
Volvo Car to Cut Around 3,000 Jobs
The Swedish carmaker warned last month that job cuts were on the way as it launched a plan to cut around $1.9 billion in costs.
Sweden's Volvo Cars to cut 3,000 jobs as part of major cost-cutting drive
The move comes after the company announced an 18 billion Swedish kronor ($1.89 billion) cost and cash action plan. Mikael Sjoberg | Bloomberg | Getty Images Sweden-based automaker Volvo Cars on Monday said it would cut around 3,000 jobs as part of a major cost-cutting drive.
Volvo latest to warn car prices will rise due to Trump's tariffs on imports
Volvo said it could become impossible to import one of its most affordable cars to the US if levies increase.
Volvo Cars to cut 5% of workforce at South Carolina plant in the US
Volvo Cars said on Wednesday it would cut 5% of the workforce at its Charleston plant in South Carolina in the United States due to changing market conditions and trade policies, including tariffs.
Volvo Cars sales fall 11% in April
Volvo Cars sold 58,881 cars in April, down 11% from a year earlier, the Sweden-based company said on Monday.
Volvo Car Pulls Guidance, Launches Plan to Soften Tariff Blow
The company launched a plan that aims to deliver 18 billion Swedish kronor in cost and cash savings to protect profitability.
