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Volvo Cars posts record annual sales but shares still dip
HELSINKI (Reuters) -Volvo Cars sold a record number of vehicles in 2023, it said on Friday, boosted by electric car demand and stabilising supply chains, but its growth rate eased towards the…
Volvo Cars Q3 profit jumps as costs fall
STOCKHOLM (Reuters) – Sweden-based automaker Volvo Cars reported a rise in third-quarter operating earnings on Thursday driven by strong volumes and lower costs for semiconductors and raw materials. Volvo Cars, majority-owned by…
Volvo Cars September sales rise 25%, demand up in China
STOCKHOLM (Reuters) -Volvo Cars’ 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…
Volvo to start production of electric trucks at Ghent factory
COPENHAGEN (Reuters) -Sweden’s Volvo will begin serial production of heavy battery electric trucks at its Ghent factory in Belgium, the truckmaker said in a statement on Thursday. The Ghent factory is the…
Volvo Cars August sales up 18%, lifted by US, Europe
HELSINKI (Reuters) -Sweden’s Volvo Cars on Monday reported an 18% rise in monthly car sales for August compared to last year, propelled by European and U.S. demand. The carmaker sold 51,636 cars…
Volvo Cars sales up 21% year-on-year in July
OSLO (Reuters) -Sweden’s Volvo Cars on Thursday reported a 21% rise in car sales in July from a year earlier, selling 54,165 vehicles, the company’s 11th consecutive month of year-over-year growth. In…
Volvo Cars June sales up 33% as fully electric car sales quadruple
COPENHAGEN (Reuters) -Sweden-based Volvo Cars on Wednesday reported a 33% year-on-year rise in June sales to 66,379 cars, helped by a spike for fully electric cars. The manufacturer, which is majority-owned by…
Volvo EVs to now have access to Tesla superchargers
(Reuters) – Swedish carmaker Volvo Cars said on Tuesday it had signed an agreement with Tesla to give its electric vehicles (EVs) access to the EV maker’s Supercharger network in the United…
Volvo Buses to restructure in Europe, hitting 1,600 jobs
OSLO (Reuters) – Volvo Group will restructure its European bus-making operation in a bid to restore it to profitability, divesting from a Polish plant and axing 1,600 jobs, the Swedish company said…
Volvo Cars will not cut EV prices to follow Tesla’s lead – CEO
By Marie Mannes STOCKHOLM (Reuters) – Volvo Cars’ top executive said on Thursday that the Swedish automaker has no intention of cutting its electric vehicle (EV) prices despite a similar move by…
Volvo Cars recalls around 106,900 cars worldwide
STOCKHOLM (Reuters) – Sweden-based Volvo Cars is recalling around 106,900 cars worldwide over a suspected fault related to the brakes, a Volvo Cars spokesperson said on Tuesday. The vehicles being recalled are…
Volvo Cars’ sales growth accelerates to 12% in November
STOCKHOLM (Reuters) – Sweden-based Volvo Car AB said on Friday its sales grew 12% year-on-year in November to 59,154 cars. “Overall underlying demand for the company’s cars continues to remain robust, especially…
Volvo Cars’ sales up 7% in October on “robust” underlying EV demand
STOCKHOLM (Reuters) -Sweden-based Volvo Car AB said on Wednesday its sales grew 7% year-on-year in October to 54,317 cars. “Overall underlying demand for the company’s cars remains robust, especially for its recharge…
Chip shortage forces temporary closure of Volvo Cars factory – GP
STOCKHOLM (Reuters) – Swedish automaker Volvo Cars will temporary close one of its factories due to a chip shortage, the company told newspaper Goteborgs-Posten on Tuesday. “There will be a temporary break…
Volvo Cars resumes limited production at one China plant
STOCKHOLM (Reuters) – Volvo Cars said on Friday limited production had resumed on Tuesday at its auto plant in the Chinese city of Chengdu. The carmaker, which is Stockholm-listed albeit majority owned…
Volvo Cars to close China plant due coronavirus restrictions
OSLO (Reuters) -Sweden’s Volvo Cars will temporarily close its plant in the Chinese city of Chengdu due to local coronavirus restrictions, a company spokesperson said on Thursday. “Due to the lockdown in…
Truck maker Volvo Group plans to build battery plant
OSLO – Swedish truck maker Volvo Group plans to establish a large-scale production plant for battery cells, gradually building it up towards 2030 to meet a growing demand for zero-emission transportation, the…
Volvo Cars to leave ACEA car lobby group over climate goals
By Nick Carey LONDON – Volvo Cars said on Friday it will leave the European Automobile Manufacturers Association (ACEA) by the end of 2022, citing differences between its zero-emission strategy and that…
Sweden’s AB Volvo begins to lay off some Russian employees
HELSINKI – Truck maker AB Volvo had begun laying off some of its Russian staff and to scale down operations, but has not made a decision to leave the country entirely, it…
Volvo Cars says March sales fall 22%, hurt by chip shortage
STOCKHOLM – Volvo Cars said on Monday car sales in March fell 22% to 58,677 cars as the automaker faced shortages of a specific semiconductor. Volvo, majority owned by China’s Geely Holding,…
Volvo Cars cuts 2022 sales volume forecast due to chip shortage
STOCKHOLM – Volvo Cars said on Tuesday that a shortage of semi-conductors was hitting production and would likely to continue through the second quarter, forcing it to cut its forecast for vehicle…
Volvo Cars to set up tech hub in Stockholm
STOCKHOLM – Volvo Cars will establish a tech hub in the Swedish capital of Stockholm it said on Friday, as it seeks to reach its goal to sell at least half of…
Ford, Volvo join Redwood in EV battery recycling push in California
By Paul Lienert – Ford Motor and Geely Automobile’s Volvo Cars will join battery recycling startup Redwood Materials in developing processes, starting in California, to collect end-of-life batteries from electric and hybrid…
Volvo Cars to invest $1.1 billion in Swedish plant for switch to EVs
STOCKHOLM -Volvo Cars will invest 10 billion crowns ($1.1 billion) in its manufacturing plant in Gothenburg in the next few years to prepare for production of fully electric cars, it said on…
Volvo to invest $283 million in Brazil by 2025
SAO PAULO – Volvo’s Brazilian unit announced on Wednesday that it will invest 1.5 billion reais ($283.36 million) in the country by 2025, after reporting record truck sales last year. The figure…
Woman who flipped car on 25 MPH residential street gives car rave safety review
ROCKVILLE CITY, MD – A woman who was driving along a 25 mile-per-hour residential road struck a parked vehicle and flipped her car in a suburban Rockville. Rockville Police said the woman…
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