Latest news with #Volvo
Reuters
16 minutes ago
- Automotive
- Reuters
Truckmaker Volvo counts on improving Europe to offset North America slump
July 17 (Reuters) - Swedish truckmaker Volvo ( opens new tab reported higher than expected quarterly earnings on Thursday, as signs of recovery in Europe helped it offset sluggish demand in North America. Truck orders in North America have fallen more than 40% in recent months compared to last year, adding to the pressures on pricing and sentiment across the sector. The second quarter was characterized by a general stabilization of the European market, contrasted by more uncertainty and a wait-and-see mode among customers in North America, Volvo said. "The results are better than feared, but the heat does appear to be coming out of Europe," analysts from Jefferies said in a research note. The downturn in North America is likely to last for quarters, CEO Martin Lundstedt told Reuters, although there might be a positive a pre-buy effect next year if new U.S. emissions rules become clearer. Those rules could make trucks more expensive and harder to maintain from 2027. Analysts have said that Volvo, which makes vehicles under brands such as Mack Trucks and Renault as well as its own name, looks better positioned than its peers to weather U.S. tariffs as it builds a larger share of its trucks locally, reducing its exposure to import-related costs. Volvo's truck order intake was similar to last year's at 47,761 vehicles, while deliveries fell 10.5% to 52,764 vehicles. Analysts from said they expected deliveries to improve in Europe in the second half of 2025. Lundstedt said he was "rather confident" that the recovery in Europe would continue, as Volvo had a full order coverage through the third quarter and bookings were also coming in for the fourth. Future tailwinds from infrastructure and defence investments should also help the business in Europe, he added. Volvo's operating profit, excluding currency exchange effects and one-off charges tied to lower battery volume commitments and asset impairments in its electric vehicle operations, fell to 13.5 billion Swedish crowns ($1.39 billion) in the second quarter. Analysts polled by LSEG had expected 13.3 billion on average. The Volvo shares, which jumped more than 3% in early trading, were broadly flat by 0945 GMT. ($1 = 9.7384 Swedish crowns)
CNET
2 hours ago
- CNET
I Took My Leica On a Trip to the Arctic. Here Are My Pro Tips for a Photography Adventure
Earlier this year, I traveled to Sweden to research, write and photograph a feature for CNET on why electric cars are great for winter driving. It was a huge undertaking, requiring me to travel around multiple parts of Sweden and venture north into the frozen Arctic Circle. As both a journalist and a professional photographer, it was my job to not just tell the story with my words, but to capture it on camera. That meant traveling with precisely the right equipment and knowing exactly how to use it to get the shots I'd need. From the camera gear I took with me to the difficulties of shooting on location to the thought process behind my shots, here's how I captured my story on camera. The camera gear I used Because I'd be traveling around Sweden, hopping on and off trains and planes and jumping in and out of taxis, I knew I needed to keep my setup lightweight. I didn't want to be burdened with a heavy backpack full of camera bodies and a myriad of lenses and accessories. Instead, I took just one camera: my new Leica Q3 43. Shooting stills on the frozen lake. Volvo I bought this camera for myself late last year. It combines a high-resolution, full-frame image sensor with a fixed focal length of 43mm. I love this focal length because it provides a great balance between a wide-angle view and a zoomed-in look. I often shoot on 35mm or 50mm prime lenses, so a 43mm lens that's permanently affixed to the camera is a great sweet spot for me. The result is that I had just one camera and lens to carry, keeping my pack-load down and eliminating any distracting questions in my head about which focal length to use. Instead, it encouraged me to work harder to find the best compositions. I brought a spare battery, along with a power bank to top up the camera over USB-C if I needed to (which I didn't). The only addition to my setup was a PolarPro 135 Gold Mist filter. This provides a gentle golden haze over the images that softens the sometimes harsh details of high-resolution shots and provides a slightly filmlike aesthetic that I absolutely love, and I kept this filter on the camera almost the entire time. To help protect my camera, I used a leather Oberwerth half case, which also provided extra grip -- helped too by a PolarPro thumb grip on the back. The half case also has a hidden pocket for an Apple AirTag, giving me a degree of extra peace of mind should my camera be misplaced. So that it was always ready to shoot, I often carried the camera around my neck using a Bowman Leather camera strap. Needless to say, for a $7,000 camera, I had my own photographic insurance for it, in case anything unlucky happened. When the gear wasn't in use, I carried the camera, accessories and other bits and bobs in my Wandrd Prvke backpack, which provides a secure storage section for my camera equipment, along with an expandable roll top for my jacket, hat, gloves or anything else I need to take with me. Video equipment Andrew Lanxon/CNET I also needed to shoot video on this trip, both for the CNET video that would run alongside my article, and to capture content for my personal photography YouTube channel. To help keep the weight down, I decided to buy a DJI Osmo Pocket 3 Creator Combo. This tiny, gimbal-stabilized camera captures great-looking, smooth footage and was the perfect partner for my busy schedule. I used it for capturing B-roll inside Volvo's headquarters in Gothenburg; for filming cars as they slid around on a frozen lake; and for capturing my photographic walking tours of Stockholm on one of my days off (seen embedded above). Sure, maybe the footage wasn't as cinematic as I'd normally try to achieve from my usual Canon R5, but it looked more than good enough and the DJI setup was far easier to carry around with me than a full-size mirrorless camera and lenses. Arctic photography The first destination on my trip was Volvo's HQ, where I was shown various areas used for the testing of its electric vehicles. Places like this aren't always easy to shoot. The main issue is that Volvo, understandably, isn't keen on showing off all its engineering secrets, so many areas I visited were off-limits for photography. Other spots where photos could be taken were maybe not that illustrative for my story, so it was important to work with Volvo -- as I do with any company -- to find compromises that both sides are happy with. That wasn't a problem, and I'm especially pleased with some of my imagery taken inside the company's battery testing area, which was a key subject of my written piece. As a journalist and photographer, my aim is always to rely on my own images when I'm visiting an area like this. It adds to the authenticity of the story, showing CNET's readers that I've actually been somewhere and seen something firsthand. This wouldn't be the case if I simply used images provided by the company. Things got more dramatic as I joined Volvo in the frozen north of Sweden. My trip first took me up to the Arctic Circle, to the city of Kiruna, where I not only saw inside Volvo's Arctic testing facility, but was also given the opportunity to ride a snowmobile at night across frozen lakes and through snowbound forests. Taking this image of the aurora borealis required a tripod and a slow shutter speed. Andrew Lanxon/CNET It was amazing, especially when we stopped and got a brief glimpse of the northern lights overhead. I set my camera up on my Peak Design Travel Tripod, framed my image using the snowmobiles as foreground interest and used a three-second shutter speed and ISO of 800 to capture enough light. I'm pleased with the image I was able to get. Watch this: I Drove an EV This Winter in Sweden to Prove It Could Be Done. 04:18 Frantic photos on a frozen lake We then traveled a little more south, to the city of Lulea, where we were handed the keys to Volvo's all-electric EX90 and given a route that would take us across the countryside and to an ice track Volvo had cleared on a frozen lake. I shared the driving with another journalist on this leg of the trip, giving me an opportunity to shoot out of the car window, capturing some details around the area that I felt would add some extra color and scene-setting to my story. On the lake, things were less sedate. I started off doing some of my own driving, going hell-for-leather around the course in the hopes of sending the car sideways around the corners -- and frequently spinning off the track into snow drifts. Great fun. I'd attached my DJI Osmo on a small clamp inside the car to film my efforts from multiple angles, but then it was time for me to do something a bit more dangerous. Capturing a car in motion like this is no easy task Andrew Lanxon/CNET I needed to capture images and footage of the cars driving, and that required a more complicated setup. First, I needed one of Volvo's test drivers to drive the car that would be the subject. I'd then be in a car in front, sitting in the trunk with the tailgate open, allowing me to freely photograph the car as it drove close behind us. When I do this on public roads, I wear a high-vis vest and I'm firmly attached inside the car using a safety harness. We didn't have this on the closed track, so I just had to sit in the back and try not to slide out as we took each corner. At one point I nearly did, but I kept my foot pressed hard against the side to support me, which helped. Was it safe? No, not really, and it's absolutely not something I'd have done on public roads, if nothing else, because it would've been illegal. But it was the only way I was able to get the shots I required of the cars in action. The freezing conditions and high speeds on the track meant that snow and ice billowed around me, covering me -- and the camera -- in snow. Thankfully, my Leica Q3 43 is weather-sealed, so I wasn't worried about any water damage. At the top of this article, you can see me sitting with the remnants of snow on me. Hunched in the open back of the car, I tried hard not to fall out. Volvo I used a slower shutter speed on my camera -- usually around 1/80 of a second -- which slightly blurred the motion of the car's wheels and the ground as it sped past, while hopefully keeping the car in sharp focus. I used burst mode to increase the chances of getting sharp, usable images, but even then I got only about 10 that I was happy with out of the couple of hundred I shot. But that's fine, I needed only a few to illustrate my story. I did another run, this time with my Osmo, to capture video. I did some out of the back and some out of side windows, filming both the subject car behind and some footage of the car we were driving, in order to give our talented video editors more varied footage to work with. After our last lap, the day came to an end, as did my time in Sweden. Editing and advice I shot many of the images on this trip using Leica's built-in Chrome color profile. I adore the colors and tones it provides, especially when paired with the PolarPro Gold Mist filter. But I shot my images in both JPEG and raw, allowing me to also apply my own edits to the raw files if I wanted to. For some shots -- like the ones of the cars in motion on the track -- I used my own edits, while for others I simply used the JPEG with the Chrome profile built in. The Leica's built-in colors allowed for dreamy-looking shots. Andrew Lanxon/CNET I shot many images for my own use on my travels, and the majority of my favorite shots use the built-in colors from the Leica. Don't be afraid to use these profiles, as they can offer you a great creative boost when you're out taking your images. Fujifilm's cameras (like the excellent X100VI) are famed for having a variety of stunning filmlike color profiles built in, so look toward those if you're keen on using in-camera colors. Overall, I'm really pleased with the variety of images I shot for CNET and for myself. It really helped that I kept my equipment load to a minimum, because it allowed me to be nimble and react quickly to moments when I saw them. If you're keen on taking your own travel and documentary photos like this, make sure to check out my full guide to professional travel photography. Editors' note: Travel costs related to parts of this story were covered by the manufacturer, which is common in the auto industry. The judgments and opinions of CNET's staff are our own.
Hindustan Times
4 hours ago
- Automotive
- Hindustan Times
Volvo XC60 facelift India launch confirmed on August 1
The Volvo XC60 facelift will arrive with subtle cosmetic tweaks, including a revised grille, front bumper, new alloys, and tweaked taillights Check Offers Volvo Auto India is all set to launch the updated XC60 luxury SUV on August 1, 2025. The Volvo XC60 facelift made its global debut earlier this year and will be arriving in India with cosmetic revisions and an updated feature list. This is the second facelift for the XC60 globally as the model keeps up with the newer competition in the segment. Volvo XC60 Facelift: What To Expect? The XC60 facelift gets cosmetic tweaks with a revised front profile. The model gets the new grille with diagonal slats from the XC90 facelift. The front bumper has been redesigned with new air intakes, while there are new alloy wheels and revised taillights with a smoked effect. Volvo added two new colours to the XC60 globally - Forest Lake and Aurora Silver - and it needs to be seen if these shades will make it to India. Also Read : India-bound Volvo XC60 facelift debuts globally with new styling, more features The Volvo XC60 facelift retains the same dashboard layout but will get a new 11.2-inch freestanding touchscreen infotainment system with a new UX The cabin gets a big upgrade in the form of the new 11.2-inch touchscreen infotainment system. The new unit is powered by the new-gen Snapdragon Cockpit Platform from Qualcomm and comes with improved pixel density, faster responses, and over-the-air (OTA) updates. Other improvements include an upgraded speaker mesh, Quilted Nordico and Navy Herringbone Weave materials, new cupholders, and improved wireless phone charging. Furthermore, Volvo says it has worked on improving the sound insulation, while there's air purification technology and a new Bowers & Wilkins premium audio system added to the SUV. The feature list also includes a panoramic sunroof, four-zone climate control, a digital instrument console, 360-degree cameras, ADAS, heated and ventilated seats with a massage function, and more. Globally, the Swedish automaker is offering an air suspension as an option on the updated XC60. Also Read : Volvo XC60 becomes brand's bestselling car of all time, 2.7 million units sold The Volvo XC60 is the brand's best-selling offering of all time with over 2.7 million units sold since 2008 Power on the Volvo XC60 facelift is expected to continue from the same 2.0-litre turbocharged petrol engine with the 48-volt mild-hybrid technology. The motor develops 247 bhp and 360 Nm of peak torque, paired with an 8-speed automatic transmission that sends power to all four wheels. The Volvo XC60 was recently crowned the automaker's best-selling car of all time. It will take on the BMW X3, Mercedes-Benz GLC, Lexus NX 300h, and the like in the segment. Check out Upcoming Cars in India 2025, Best SUVs in India. First Published Date: 17 Jul 2025, 13:10 pm IST
Time of India
5 hours ago
- Automotive
- Time of India
Volvo Cars quarterly operating profit beats expectations despite tariff hit
Volvo Cars reported a sharp decline in second-quarter operating profit on Thursday that nonetheless exceeded analyst expectations, sending shares up, though the company continues to face headwinds from tariffs and softening demand. Sweden-based Volvo Cars is the first European carmaker to release results in what analysts expect to be a challenging earnings season, as subdued demand for electric vehicles and intensifying competition from Chinese manufacturers coincide with trade tensions. But much of the fall had already been priced in to analyst and investor estimates as the prospect of tariffs and lower sales was largely expected. Shares were up nearly 8% at 0712 GMT. "Demand remains soft and volatile, impacted by weakening consumer confidence and the introduction of additional tariffs, which continue to pose challenges for the automotive sector," the carmaker said in its earnings report. In addition to a 27.5% tariff imposed on European-made Volvo cars entering the U.S., it has also been hit by a 25% tariff on auto parts as well as on steel and aluminium. Despite the gloomy environment, second-quarter numbers came in better than feared, analysts at Bernstein said in a research note. "Given how weak stock positioning is here it should be enough for a positive market reaction," they said. The company, owned by China's Geely Holding , posted an adjusted operating profit of 2.9 billion Swedish crowns ($297.89 million), down from 8.0 billion crowns a year earlier. Its gross margin, a key metric for assessing the tariff impact , dropped to 13.5% from 18.2% in the first quarter, though, adjusted for one-offs, it stood at 17.7%. Volvo Cars announced a $1.2 billion impairment charge related to model launch delays and tariffs on Monday, resulting in an operating loss of 10 billion crowns, compared to a profit of 8 billion crowns in the same quarter last year. Earlier in the year, former CEO Hakan Samuelsson was brought back for two years to help revive a record-low share price. Samuelsson quickly launched a cost-cutting programme, pulled earnings guidance, slashed 3,000 jobs, and slowed down investments.
Business Times
6 hours ago
- Automotive
- 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
