The Latest Breaking News from Volvo Cars

Rising tariff uncertainty and higher material prices, among other factors, has resulted in several European car companies to implement drastic cost-cutting measures.

The majority of the job cuts will affect office-based positions in Sweden. Volvo Cars said the decision would help to build a stronger and more resilient company down the line.

Volvo Cars's Chief Executive Officer, Jim Rowan, will step down today. The company’s board of directors voted to replace him after three years at the helm of the Swedish automaker. Rowan, who was also the automaker's President, will be replaced by Håkan Samuelsson, who will serve a two-year term starting…

President Donald Trump's tariffs on auto imports will deal a heavy blow to European carmakers, especially German manufacturers, which rely on the US markets for a big chunk of their profits.

Sweden's Volvo Cars, owned by China's Geely Group, said Thursday that annual profits rose in 2024 despite a final quarter slowdown but that the outlook for this year is tougher.

Plans are further blow to Europe’s hopes of creating a homegrown electric car battery

Sweden's Volvo Cars on Wednesday drastically cut its sales forecast for the year, saying car markets in China, Europe and the United States are "increasingly under pressure."

Hyundai Mobis to build electric car components plant in Novaky, Slovakia, as Volvo Cars plans entry, boosting country's automotive industry.

“We will be fully electric probably in 50% of the market way before 2030, but in the other 50%, it’s going to take a lot longer," CEO Jim Rowan told Fortune.