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2026-07-17 14:06:19 Volvo Cars, owned by Zhejiang Geely Holding Group, reported 2Q operating profit of SEK826 million (approximately USD85.4 million), below market expectations of SEK1.3 billion, compared with a loss of nearly SEK10 billion in the same period last year. During the quarter, revenue fell to SEK77.673 billion from SEK93.492 billion in the same period last year, also missing market expectations. Volvo Cars said both the company and the broader auto industry experienced noticeable weakness in the China market, while the ongoing Middle East conflict further heightened uncertainty in global markets. However, the company has made progress in its strategic initiatives. Coupled with signs of recovery in the US market and robust sales of BEVs in Europe, the company is confident that its performance will improve in 2H and that it will achieve strong positive free cash flow, with the full year basically reaching break-even. ~ AASTOCKS Financial News Website: www.aastocks.com | |