On October 23, Volvo Cars announced that revenue for the third quarter of 2026 was SEK 66.9 billion, or SEK 86.4 billion for the same period last year; operating profit was negative SEK 5.6 billion, compared to SEK 6.4 billion for the same period last year); basic earnings per share were negative SEK 1.63, compared to SEK 1.75 for the same period last year. Among them, Volvo Cars' revenue in the Chinese market fell by about 50% year on year. Volvo Cars said it plans to further cut indirect expenses and variable costs by SEK 5 billion on the basis of previously successfully completed cost plans. These measures will structurally cut around 2,500 jobs worldwide, 2,000 of which are in Sweden, through termination of consulting contracts, attrition, and targeted employee termination compensation programs.
Zhitongcaijing · 2d ago
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On October 23, Volvo Cars announced that revenue for the third quarter of 2026 was SEK 66.9 billion, or SEK 86.4 billion for the same period last year; operating profit was negative SEK 5.6 billion, compared to SEK 6.4 billion for the same period last year); basic earnings per share were negative SEK 1.63, compared to SEK 1.75 for the same period last year. Among them, Volvo Cars' revenue in the Chinese market fell by about 50% year on year. Volvo Cars said it plans to further cut indirect expenses and variable costs by SEK 5 billion on the basis of previously successfully completed cost plans. These measures will structurally cut around 2,500 jobs worldwide, 2,000 of which are in Sweden, through termination of consulting contracts, attrition, and targeted employee termination compensation programs.
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