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Swedish-based car manufacturer cars on Tuesday declared 18 billion Sweden Krona ($ 1.87 billion) $ 18 billion worth of spending plans ($ 1.87 billion) fell sharply in the first three months of the snake.
Volvo cars belonging to China’s Geely Holding, 1.9 billion Krona in the first quarter, the first in the same period last year is the first from 4.7 billion krons.
His margin (EBIT) deceived from 5% to 2.3% a year ago, 82.9 billion krona fell from 93.9 billion in the first quarter in the first quarter in 2024.
The company said that the results were reflected in the last three months of 2024, negative currency effects and an inventory reduction in the last three months of the wide car industry turbulence.
The so-called “value and cash action plan” of Volvo cars will include reducing investments in any operation in the world and reduce the decline. The company did not provide additional information about the potential scale of the withdrawals, but “more information as soon as possible”, he said.
Volvo cars have not been provided with 2025 and 2026, but also the financial management for both 2025 and 2026.
“There is a very difficult headline in the market,” said Volvo cars CEO Håkaelson on Tuesday in an interview with the CNBC “Early Edition” CNBC.
“The volume is dropped and above this, as well as price contest, new players in the electric segment, especially affect prices.
Samuelsson added that the company focused on the fact that the value of the activity can be handled.
The shares of Volvo cars fell to 10% before taking their loss Tuesday. The company was sold by 8.8% last time.
Volvo cars CEO calls for US trade deal
In the reporting report, the company said the United States will investigate the US product line and explore how “it can better use” to produce “more cars in places sold.”
US President Donald Trump has applied 25% tariffs in cars brought to the United States this month. The White House said he planned to place tariffs in some car parts such as engines and passes, no later than May 3.
“We see long-term, of course, this will certainly be very difficult for the United States to return to a kind of trade deal in the United States,” Samuelsson said.
Along with the preparation of more cars, Samuelsson said that the automobile manufacturer can make the South Carolina plant more effectively.
“We need a better use of our Charleston factory, we need another car for this factory, and it should be the most sold for the US market. Therefore, it is something that we have to import and pay tariffs.
The sales share of Volvo cars “Electric cars” is the share of “electric cars” determined by the charging cord in the first quarter. Froze purposeful To represent 90% of global sales from 90% to 100% to the category by 2030.
