Volvo Cars Reports SEK3.7bn Q3 Loss and Announces More Job Cuts
Volvo Cars posted a third-quarter loss of SEK3.7bn, compared with a profit of SEK5.8bn a year earlier. Revenue fell to SEK66.9bn from SEK86.4bn, and the company announced more job cuts.
The company - owned by China’s Geely - posted a third-quarter loss of SEK3.7bn, versus a profit of SEK5.8bn in the same period a year earlier. Revenue in the quarter fell to SEK66.9bn from SEK86.4bn.Volvo Cars said the results reflect "a further deteriorating external environment, led by market dev…