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Volvo Takes a $1.2 Billion Hit Due to Tariff Hikes and EX90 Launch Delay
3 day ago /
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Author：小编
On July 14, Volvo Cars announced that it would incur a one-time charge of SEK 11.4 billion (roughly $1.2 billion), stemming from heightened tariffs in the United States and the postponement of the launch of its flagship model, the EX90. The delayed launch of the EX90 has resulted in additional development costs, thereby compressing profit margins. This substantial write-down is expected to have a notable impact on Volvo Cars' net profit for the second quarter.
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