
Swedish automaker reports 5.6 billion Swedish Kronor operating loss in the third quarter.
Volvo Cars plans to cut 2,500 jobs following a severe drop in its Chinese market that drove a 5.6 billion Swedish Kronor operating loss in the third quarter.
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Volvo Cars reported a severe decline in its Chinese market and tougher U.S. conditions, leading to a major operating loss.
Volvo Cars said Friday it plans to slash 2,500 jobs as a severe decline in its Chinese market weighed on earnings in the third quarter.
The Swedish automaker reported an operating loss of 5.6 billion Swedish Kronor ($563.7 million) in the third quarter, down from an operating profit of 6.4 billion Swedish Kronor in the previous period.
The company cited a deteriorating environment led by "tougher" market conditions in China and the U.S., which "negatively affected free cash flow."
Volvo Cars shares were last down over 28% after the European market opened.

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Swedish automaker Volvo Cars is cutting around 2,500 jobs worldwide, including 2,000 in Sweden, after a disastrous third quarter of 2026 left it deep in the red. The reasons are slumps in sales in China and the USA.

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