Volvo Cars posts Q2 profit as US shows signs of recovery, China remains weak
Volvo Cars reported a Q2 2026 profit, swinging from a net loss of Skr8.10bn a year earlier to net income of Skr417m, driven by cost savings and a stabilizing US market. Revenue fell to Skr77.67bn from Skr93.49bn, partly due to a one-off effect. The company achieved its Skr5bn full-year cost savings target six months early, aided by a headcount reduction of about 3,000 roles. Fully electric vehicles made up 25% of sales, up from 21%, while electrified models (including plug-in hybrids) accounted for 52%. The US market showed growth in May and June after a prolonged decline, and Europe held up despite competition. However, China weakened markedly, affecting both Volvo and the broader industry. The company expects stronger sales in the second half of 2026, driven by Europe and US recovery, and plans to unveil two new models later this year.
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