The Swedish automaker is trimming its earnings margin goal for 2026 due to “increased complexity especially in relation to global trade and…
Swedish automaker Volvo Cars on Thursday trimmed its 2026 margin target and adjusted its revenue goals amid complexity in"global trade and tariffs."
Volvo Cars shares were 3.2% higher in early afternoon deals following a 10% decline so far this week.on Thursday scaled back its margin and revenue targets, after announcing it was no longer targeting 100% all-electric vehicle sales by 2030. The Swedish automaker, which is majority-owned by China's Geely Holding, said it is now targeting a 2026 EBIT margin goal of 7-8%, down from"above 8%," due to"increased complexity especially in relation to global trade and tariffs."It added that it was now seeking to"continue outgrowing the premium car market until 2026," rather than sticking to its previously announced revenue target of between 500 billion Swedish kronor and 600 billion kronor.
Volvo cited consumer demand, a slower-than-expected rollout of charging infrastructure, a withdrawal of government incentives in some markets and uncertainty fromIt said it remains committed to fully electric sales in the longer term"when the market conditions are suitable."Figures released by Volvo Cars on Thursday showed its global sales rose 3% year-on-year in August, driven by 32% growth in Europe, as China sales tumbled 23%.
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