Report
Volvo Cars reports Q3 operating loss, China sales collapse, announces additional ~2,500 job cuts
A post says revenue fell 23% and China sales nearly halved amid fierce local EV competition.
TLDR
One post puts Volvo's Q3 operating loss at 5.6 billion kronor and revenue down 23%, while another puts the loss at 3.7 billion. Both describe 2,500 additional job cuts and a 5 billion kronor savings plan. The first says China sales nearly halved amid local EV competition, 2,000 cuts are in Sweden, and shares fell as much as 30% to record lows.
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