Volvo vehicles were seen outside a Volvo dealership on 02 February 2025 in Edmonton, AB, Canada.
Nurphoto | Nurphoto | Getty images
The shares of the Sweden-based automekar Volvo cars rose by 10% on Thursday as the company’s second quarter’s operational gains defeated the analyst’s expectations despite the year-to-year fall.
Volvo cars, which are owned by China’s wet holding on Thursday Informed The second quarter’s operational advantage, except for goods affecting comparativeness, fell below 8 billion to 2.9 billion Swedish chronners ($ 297.83 million) during the last year.
In the same period in 2024, the revenue of the second quarter fell to 93.5 billion chronner as compared to 101.5 billion chronners.
Volvo cars, widely considered one of the most exposed European car manufacturers for American tariffs, stated that the result reflects the challenging environment for the motor vehicle industry. The company said that it was also affected Was declared earlier 11.4 billion Cronor’s one-closed non-cash-over.
Despite the Downbeat spirit, the second quarter figures of Volvo cars were still better than anticipated, JP Morgan’s analysts said in a research note.
The shares of Volvo cars were last seen trading up to 8%. The price of stock is less than 20% of the year-by-year.
The second quarter earnings come immediately after the Volvo cars Launched There is a plan to add its best -selling XC60 sports utility vehicle in the production line of its US car plant in Rizville outside Charleston in South Carolina.
The production of XC60, which has been the best -selling model of the firm globally over the years, is scheduled to begin in the factory in late 2026.
At the same time, Volvo cars have started pulling sedans and station wagons from their American portfolio, which is between interest, Reuters reported Thursday. It comes as an American tariff of 27.5% on European -made cars and 100% on EV imported from China forced vehicle manufacturers to review their product strategies.
Volvo Cars CEO Hekan Samuelson said the company would definitely not pull out of the US market, where it has been present for 70 years.
“What we are doing is the first, we want to fill our factory in South Carolina. It should be a strategic property that should have been aimed. Therefore, we have to use it more,” Samuelson told CNBC’s “”, “Europe Early Edition“On Thursday.
He said, “Second, of course, now with tariffs, it is very natural to bring into (car model) with large-bound volumes. We are bringing in the XC60 SUV,” he said.
