Volvo Cars has reported its first operating loss since its 2021 stock market listing in Stockholm as higher US tariffs and restructuring costs hurt its profitability.
The Swedish group, owned by China’s Geely, reported on Thursday an operating loss of SKr10bn ($1bn) for the April to June quarter, compared with a profit of SKr8bn a year earlier and an average analyst estimate of a profit of SKr2.3bn, according to S&P Capital IQ.
Revenue also declined 8 per cent to SKr 93.5bn as retail sales declined in markets including Europe and China.
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