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Volvo Cars swings to third-quarter loss, plans job cuts
STOCKHOLM: Volvo Cars swung to an operating loss in the third quarter as a slow production ramp-up of its new EX60 electric SUV and weak demand in China and the United States hit sales, and said on Friday it will cut some 2,500 jobs. The company, majority-owned by China’s Geely Holding , swung to an adjusted operating loss of 3.7 billion Swedish crowns ($373 million) for the third quarter, from a profit of 5.8 billion crowns a year earlier. “The third quarter of 2026 was very disappointing and reflects a year that has become far more challenging than originally anticipated. Our ongoing turnaro...
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