Car review: Small battery, respectable range on a Desaru road trip
Volvo's detuned EX30 compact crossover – which qualifies for the slightly less punitive Category A certificate of entitlement (COE) – is the choice for my latest endeavour. I pick the Plus variant, which has one of the smallest batteries in town, rated at 51kWh.
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Straits Times
3 days ago
- Straits Times
Car review: Small battery, respectable range on a Desaru road trip
DESARU, Johor – Some people jump off planes, some swim with sharks and others climb sheer cliffs without ropes. Me? I seek my thrills by seeing how far I can go in an electric car before it runs out of juice. Volvo's detuned EX30 compact crossover – which qualifies for the slightly less punitive Category A certificate of entitlement (COE) – is the choice for my latest endeavour. I pick the Plus variant, which has one of the smallest batteries in town, rated at 51kWh.
CNA
23-07-2025
- CNA
European auto shares rally after US-Japan trade deal
Shares in major European carmakers rose on Wednesday, tracking a steep rally in some of their Asian rivals, after Tokyo struck a trade deal with the United States, fuelling optimism for a similar agreement with Europe. Shares in Japanese and South Korean automakers surged overnight on news the deal would cut the U.S. tariff on Japanese vehicle imports to 15 per cent, from a proposed 25 per cent. Volvo Car jumped around 7 per cent to its highest since mid-May. Germany's Porsche , BMW, Mercedes Benz, Volkswagen all rose between 3.8 per cent and 6.8 per cent. Shares in Stellantis and Renault were up around 3 per cent. The European auto stocks index rose 3.4 per cent by 0706 GMT, the most among other sectoral indices, compared with a 0.9 per cent rise in the regional STOXX 600 index. The European Commission is seeking to reach a trade deal outline with the United States ahead of the August 1 deadline set by U.S. President Donald Trump for broad tariff increases. As part of these efforts, Brussels is discussing with U.S. counterparts a range of measures aimed at protecting the European Union auto industry, including tariff cuts, import quotas and credits against the value of EU automakers' U.S. exports, industry sources and trade officials say. Citi analysts said it was notable the tariffs for a major auto exporting country were reduced without a cap on shipments, which could have implications for negotiations with the EU and South Korea. Europe shipped nearly 758,000 cars worth 38.9 billion euros ($45.57 billion) to the U.S. in 2024, more than four times as many as in the other direction, according to data from European auto association ACEA. However, a group representing U.S. automakers that includes Chrysler-parent Stellantis signalled their unhappiness with the deal, raising concerns about a trade regime that cuts tariffs on auto imports from Japan, while leaving tariffs on imports from their plants and suppliers in Canada and Mexico at 25 per cent.
Business Times
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- Business Times
Volvo Car posts US$1 billion loss over impairment, tariffs
[STOCKHOLM] Volvo Car posted a US$1.03 billion operating loss in the second quarter, hit by a previously announced impairment charge over model delays and the escalating cost of tariffs. The automaker's retail sales plunged 12 per cent to 181,600 vehicles in the period. Volvo's cost-cutting programme is on track, the company said on Thursday (Jul 17). Controlled by China's Zhejiang Geely Holding Group, Volvo is one of the more tariff-exposed car brands. Tariffs and past development setbacks have weighed on profitability and sales of its battery-powered models, the EX90 sport utility vehicle and ES90 sedan. On Wednesday, the company announced plans to start producing its best-selling XC60 at its US plant, a sport utility vehicle previously imported from Sweden. Volvo earlier this week warned that it would take an 11.4 billion Swedish kronor (S$1.5 billion) impairment charge over model delays and the growing cost of tariffs. Chief executive officer Hakan Samuelsson was brought back in April by owner Li Shufu to turn around the company by aligning it more closely with the Geely group. He's also pushing through a sweeping 18 billion-krona cost-cutting program set to affect roughly 3,000 jobs. Earlier this month, Samuelsson said the company would delay large-scale production at its under-construction Slovakia plant to early 2027, from a previous target of 2026, to better align product launch timelines. Volvo has also agreed with sister brand Polestar to produce the upcoming Polestar 7 SUV at the same facility starting in 2028. BLOOMBERG
