Reported 1 day ago
Volvo Cars reported a decline in second-quarter operating profit that, surprisingly, surpassed analyst expectations, resulting in an 8% increase in share prices. The company continues to face challenges from increased tariffs and weakened demand as the automotive industry encounters trade tensions and competition from Chinese manufacturers. Despite these headwinds, Volvo's adjusted profit came in at 2.9 billion Swedish crowns, down from last year's 8 billion crowns, with a significant impairment charge noted due to model launch delays and tariffs.
Source: YAHOO