Volvo Cars went from profits of 1,244 million euros to a net loss of 238 million euros (2,600 million crowns) in the first nine months of the year, the Swedish car manufacturer announced today.
The result, which contrasts with the profit of 13.6 billion Swedish kronor (1,244 million euros) in the same period in 2024, was marked by a provision of 11,400 million kroner (1,003 million euros) made in the last quarter.
This measure was attributed to the loss of profitability, US tariffs and the delay in launching the new EX90 model.
Net sales amounted to 263,000 million crowns (24,063 million euros), which represents a drop of 9%.
The net operating result (ebit) went from a profit of 18,500 million crowns (1,693 million euros) to losses of 1,600 million crowns (146 million euros).
In the third quarter, Volvo Cars, controlled by the Chinese car company Geely, achieved a net profit of 4,500 million Swedish kronor (412 million euros), an increase of 4% compared to the previous year.
The Swedish company attributed the improvement to the effect of the cost reduction plan introduced at the beginning of the year.
However, net sales fell 7% to 7,905 million euros.
Ebit rose 11% compared to the previous year, 586 million euros.
Volvo Cars sold 160,514 cars in the third quarter, a 7% drop.
The share of 100% electric cars fell from 25% to 22% of the total.
The company’s executive president, Håkan Samuelson, highlighted the positive result in the third quarter of the year, despite the reduction in the high-end market, strong competition in electric cars and the effects of tariffs imposed by the United States.
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