Volvo Cars cuts 2,500 jobs on US tariffs, China competition

Volvo Cars, Geely's Swedish EV unit, reported a Q3 net loss and announced 2,500 job cuts (2,000 in Sweden) citing US tariffs and intense Chinese competition. CEO Håkan Samuelsson called the quarter 'very disappointing,' signaling structural pressure on European automakers from trade barriers and EV price wars. The move underscores margin erosion in the sector and potential ripple effects on supply chains and regional employment.

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