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Volvo's Q3 profit surged on cost cuts and efficiency, despite lower sales, boosting shares 39%.
Volvo Cars posted third-quarter operating profit of SEK 6.3 billion, well above expectations, driven by cost-cutting, supply chain efficiencies, and a higher gross margin, despite lower revenue and ongoing market challenges.
The company, majority-owned by Geely, implemented aggressive measures including 3,000 job cuts and reduced investments, while benefiting from lower U.S. tariffs and improved production.
CEO Håkan Samuelsson cited a sales rebound in September and optimism ahead of the new EX60 electric SUV launch.
Volvo’s shares surged over 39%, reaching their highest level since summer 2024.
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La ganancia del tercer trimestre de Volvo se disparó debido a los recortes de costos y la eficiencia, a pesar de las ventas más bajas, aumentando las acciones en un 39%.