Tag: $Volvo

 Volvo Cars said on Thursday it will launch 13 new models between now and 2030 to double its market share as the Sweden-based automaker grapples with the fallout of U.S. tariffs and slumping sales in China. The company’s shares rose almost 2% following the announcement.

Volvo AB said truck demand is improving in some markets as customers return after months of weak freight conditions and policy uncertainty.

Shares of Sweden-based automaker Volvo Cars rose as much as 10% on Thursday as the company’s second-quarter operating profit beat analyst expectations despite a sharp year-on-year decline.

The move comes after the company announced an 18 billion Swedish kronor ($1.89 billion) cost and cash action plan. Volvo Cars said the 3,000 job cuts would primarily impact office-based positions in Sweden and represent around 15% of the firm’s total office-based workforce.

Swedish truck maker AB Volvo forecast stagnant demand next year and posted a bigger-than-expected slide in quarterly adjusted earnings on Friday, after reduced freight and construction activity limited vehicle sales.

Swedish automaker Volvo Cars on Wednesday announced deputy CEO Björn Annwall will step down from his current role as part of a management reshuffle designed to increase simplicity and collaboration in the organization.

Shares of Volvo Cars rose sharply on Thursday after the company reported a jump in annual operating profit for the second quarter.

Volvo Cars’ sales rose to 68,034 cars in May, up 13% from a year earlier, buoyed by a 27% jump in Europe and a strong performance by its fully electric EX30, the group said on Wednesday.

Swedish automaker Volvo Cars on Wednesday reported an uptick in first-quarter core operating profits driven by strong retail sales.

Shares in Sweden’s Volvo Cars hit their highest level since November on Thursday after the automaker posted record March sales.

Shares of Volvo Cars fell on Friday after the company said it would dilute its stake in electric vehicle maker Polestar by distributing 62.7% of its holdings to its shareholders.

The group announced that it may hand stewardship of ailing luxury car brand Polestar over to majority Volvo shareholder Geely Holding.

OSLO, Nov 17 (Reuters) – Shares of Swedish automaker Volvo Cars fell as much as 14% to a record low on Friday after its majority shareholder, China’s Geely  sold a small part of its stake at a deep discount to the previous day’s closing price.

STOCKHOLM, Oct 5 (Reuters) – Volvo Cars’ (VOLCARb.ST) sales rose 25% in September from a year earlier to 61,666 cars as sales grew in China as well as in the U.S. and Europe, the Sweden-based group said on Thursday.