Geely-owned Volvo hits Q1 slowdown amid ‘turbulence’; set to cut $1.9bn in costs

The Swedish firm has said that it is no longer providing financial guidance for 2025 and 2026, with job losses expected across its global workforce.

Andrew Tjaardstra

April 29, 2025

Volvo Cars' (Volvo) profits (EBIT) fell to SEK1.9 billion ($197.8 million) for Q1 2025, compared with SEK6.8 billion in Q1 2024.

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