Latest news with #XC60
Scotsman
an hour ago
- Automotive
- Scotsman
A twin triumph: Edinburgh car retailer celebrates as popular models win big at prestigious award ceremonies
A car retailer in Edinburgh is celebrating a double win after two of its most popular models scooped prestigious awards for their performance, comfort and practicality. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... John Clark Volvo Edinburgh on Lonehead Drive is celebrating after the XC60 – recently crowned the best-selling Volvo of all time – was named 'Best Car for Towing' at this year's Autotrader Awards. Judges agreed the mid-sized Volvo SUV offered effortless performance, strong towing capability, excellent comfort levels and a roomy interior, along with easy driving characteristics. Advertisement Hide Ad Advertisement Hide Ad The panel went on to praise the car's customer feedback, revealing how one owner commented: 'The whole 'being' of the car makes you feel like being wrapped up in a fluffy duvet, all warm, soft and comfortable.' Volvo EX30 Adding to John Clark Volvo Edinburgh's success, the car retailer's smallest model, the EX30, was named Small Premium SUV of the year at the Auto Express New Car Awards. The Auto Express New Car Awards are one of the highlights of the automotive calendar, picking out the best in the business across 27 categories and focusing on the things that matter to consumers – from practicality and efficiency to reliability and the driving experience. Designed with safety and sustainability in mind, the EX30 is made from recycled materials and has the smallest CO2 footprint of any Volvo car to date, thanks to a new pure-EV platform. Advertisement Hide Ad Advertisement Hide Ad Announcing the award, Auto Express Editor, Paul Barker, said: 'Premium in brand but brilliantly priced to open up classy electric cars to a wider audience, the Volvo EX30 is an all-round star, combining sure-footed handling with comfort, space and plenty of performance. It's a small SUV, but it goes big on quality.' Nicole Melillo Shaw Managing Director at Volvo Car UK at the Drivers' Choice Awards 2025 Bryan Muir at John Clark Volvo Edinburgh, said: 'It's fantastic to see the Volvo XC60 and EX30 models receive much-valued seals of approval after rigorous judging processes in their respected categories and awards. 'Like Volvo's other award-winning models, this string of accolades for the XC60 and EX30 reflects the importance Volvo places on making its cars practical to own and use, as well as desirable, luxurious, safe and sustainable. 'I'd encourage Edinburgh drivers to visit John Clark Volvo Edinburgh to learn more about the XC60 and EX30, see the model's capabilities first-hand and to chat to our friendly team of experts.' To find further information about the XC60 or EX30, visit or call 0131 357 3344
Scotsman
4 hours ago
- Automotive
- Scotsman
A twin triumph: Local car retailer celebrates as popular models win big at prestigious award ceremonies
A car retailer in Perth is celebrating a double win after two of its most popular models scooped prestigious awards for their performance, comfort and practicality. Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Camerons Volvo Perth on Arran Road is celebrating after the XC60 – recently crowned the best-selling Volvo of all time – was named 'Best Car for Towing' at this year's Autotrader Awards. Judges agreed the mid-sized Volvo SUV offered effortless performance, strong towing capability, excellent comfort levels and a roomy interior, along with easy driving characteristics. Advertisement Hide Ad Advertisement Hide Ad The panel went on to praise the car's customer feedback, revealing how one owner commented: 'The whole 'being' of the car makes you feel like being wrapped up in a fluffy duvet, all warm, soft and comfortable.' Robert Deane. Commercial Director at Volvo Cars UK at the Auto Exress New Car Awards Adding to Camerons Volvo Perth's success, the car retailer's smallest model, the EX30, was named Small Premium SUV of the year at the Auto Express New Car Awards. The Auto Express New Car Awards are one of the highlights of the automotive calendar, picking out the best in the business across 27 categories and focusing on the things that matter to consumers – from practicality and efficiency to reliability and the driving experience. Designed with safety and sustainability in mind, the EX30 is made from recycled materials and has the smallest CO2 footprint of any Volvo car to date, thanks to a new pure-EV platform. Advertisement Hide Ad Advertisement Hide Ad Announcing the award, Auto Express Editor, Paul Barker, said: 'Premium in brand but brilliantly priced to open up classy electric cars to a wider audience, the Volvo EX30 is an all-round star, combining sure-footed handling with comfort, space and plenty of performance. It's a small SUV, but it goes big on quality.' Nicole Melillo Shaw Managing Director at Volvo Car UK at the Drivers' Choice Awards 2025 Norman Leishman at Camerons Volvo Perth, said: 'It's fantastic to see the Volvo XC60 and EX30 models receive much-valued seals of approval after rigorous judging processes in their respected categories and awards. 'Like Volvo's other award-winning models, this string of accolades for the XC60 and EX30 reflects the importance Volvo places on making its cars practical to own and use, as well as desirable, luxurious, safe and sustainable. 'I'd encourage Perth drivers to visit Camerons Volvo Perth to learn more about the XC60 and EX30, see the model's capabilities first-hand and to chat to our friendly team of experts.'
Yahoo
16 hours ago
- Business
- Yahoo
From toys to cars, tariffs hit companies' bottom lines
The numbers are in: Big toy and auto companies are reporting just how much tariffs are costing them. Toymaker Hasbro said in its quarterly earnings call Wednesday that it recorded a $1 billion hit for consumer products just in the second quarter as a result of tariff impacts and its long-term outlook. Though the company is projecting growth overall in 2025 with games performing well, it's expecting consumer products revenue to drop 5%-8% this year because of the import taxes. It anticipates tariffs will make a $60 million dent this year. To mitigate the tariff impacts, Hasbro is working to reduce the U.S. toys and games it gets from China from around 50% now to less than 40% by 2027. And it's planning to bring more production to the United States — something President Donald Trump has pushed companies to do. Meanwhile, its competitor Mattel anticipates tariffs could make a dent this year of up to $100 million. The company said it has adjusted pricing — but didn't specify what the price increases were, which products were affected or when the changes took effect. 'It is the price that is necessary to offset some of the headwinds in addition to the array of a multitude of other actions that we're taking,' Mattel Chief Financial Officer Paul Ruh said. The company says it's working to broaden its supply chain faster and improve on its product sourcing to help mitigate tariff impacts. It doesn't expect any more price hikes this year. And tariffs aren't just affecting toy companies — they're also hitting some of the biggest automakers in the world. General Motors said this week tariffs cost it $1.1 billion in the second quarter. And it's expecting tariffs overall this year could cost it $4 billion to $5 billion. So far, the automaker that produces Chevys, Cadillacs and other brands has eaten that cost, and it's trying to offset some of the impact through cost cuts and investments in the U.S. 'Many of the manufacturing announcements that we made earlier in the quarter about onshoring production here into the U.S. with $4 billion of capital initiatives are going to have an effect as we get 18 to 24 months down the road,' GM CFO Paul Jacobson told CNBC. Stellantis, the maker of Jeep, Chrysler and Dodge, said it expects a $2.7 billion loss in the first half of this year, in part from tariffs. And Volvo just reported a big decline in its second quarter operating profit. It's now planning to add its best-selling XC60 SUV to the production line of its South Carolina plant next year. The auto industry is currently subject to 25% tariffs on imported cars and parts and 50% on steel and aluminum. It's part of an ever-changing patchwork of tariffs as the Trump administration seeks deals with trading partners around the world ahead of its Aug. 1 tariff deadline. The latest: an agreement with Japan setting tariffs at 15% on Japanese imports, less than the 25% Trump had threatened. The American Automotive Policy Council, an industry group representing the Detroit Three automakers General Motors, Ford and Stellantis, is worried that the Japan deal could hurt companies making cars across North America. The 15% Japan tariffs are lower than the 25% on Canada and Mexico, where many American car brands manufacture their cars, trucks, vans and SUVs. 'Any deal that charges a lower tariff for Japanese imports with virtually no U.S. content than the tariff imposed on North American built vehicles with high U.S. content is a bad deal for U.S. industry and U.S. auto workers,' Matt Blunt, president of the American Automotive Policy Council, said in a statement. Commerce Secretary Howard Lutnick pushed back against complaints that U.S. automakers could face higher tariffs than companies making cars fully in Japan. 'That's just so silly,' he said in a CNBC interview. 'The American manufacturers are going to do extremely well in America as long as they build it in America.' Car companies haven't really upped prices yet as a result of tariffs, but that may change. 'What the challenge is going to be for the back half of the year is to figure out, will they continue absorbing a majority of the tariff impact or will we start to see that increase in consumer pricing as they start to try to pass along some of the impact,' said Erin Keating, Cox Automotive executive analyst. Cox Automotive anticipates car prices may rise 4%-8% by the end of the year. It also found that inventory of both new and used cars dropped in July. And tariffs might mean fewer toys on the shelves this holiday season. Hasbro reports some retailers are pausing or slowing down imports of holiday inventory. 'A lot of hot products are going to likely be out of stock this holiday because we're just not going to be able to replenish them because we didn't have the upfront inventory for them,' Hasbro CEO Chris Cocks said. 'So like a Play-Doh Barbie, a Nano-Mals, a Baby Evie. If you're a mom or a dad, you're probably going to want to go and buy that early.' This article was originally published on
NBC News
20 hours ago
- Business
- NBC News
From toys to cars, tariffs hit companies' bottom lines
The numbers are in: Big toy and auto companies are reporting just how much tariffs are costing them. Toymaker Hasbro said in its quarterly earnings call Wednesday that it recorded a $1 billion hit for consumer products just in the second quarter as a result of tariff impacts and its long-term outlook. Though the company is projecting growth overall in 2025 with games performing well, it's expecting consumer products revenue to drop 5%-8% this year because of the import taxes. It anticipates tariffs will make a $60 million dent this year. To mitigate the tariff impacts, Hasbro is working to reduce the U.S. toys and games it gets from China from around 50% now to less than 40% by 2027. And it's planning to bring more production to the United States — something President Donald Trump has pushed companies to do. Meanwhile, its competitor Mattel anticipates tariffs could make a dent this year of up to $100 million. The company said it has adjusted pricing — but didn't specify what the price increases were, which products were affected or when the changes took effect. 'It is the price that is necessary to offset some of the headwinds in addition to the array of a multitude of other actions that we're taking,' Mattel Chief Financial Officer Paul Ruh said. The company says it's working to broaden its supply chain faster and improve on its product sourcing to help mitigate tariff impacts. It doesn't expect any more price hikes this year. And tariffs aren't just affecting toy companies — they're also hitting some of the biggest automakers in the world. General Motors said this week tariffs cost it $1.1 billion in the second quarter. And it's expecting tariffs overall this year could cost it $4 billion to $5 billion. So far, the automaker that produces Chevys, Cadillacs and other brands has eaten that cost, and it's trying to offset some of the impact through cost cuts and investments in the U.S. 'Many of the manufacturing announcements that we made earlier in the quarter about onshoring production here into the U.S. with $4 billion of capital initiatives are going to have an effect as we get 18 to 24 months down the road,' GM CFO Paul Jacobson told CNBC. Stellantis, the maker of Jeep, Chrysler and Dodge, said it expects a $2.7 billion loss in the first half of this year, in part from tariffs. And Volvo just reported a big decline in its second quarter operating profit. It's now planning to add its best-selling XC60 SUV to the production line of its South Carolina plant next year. The auto industry is currently subject to 25% tariffs on imported cars and parts and 50% on steel and aluminum. It's part of an ever-changing patchwork of tariffs as the Trump administration seeks deals with trading partners around the world ahead of its Aug. 1 tariff deadline. The latest: an agreement with Japan setting tariffs at 15% on Japanese imports, less than the 25% Trump had threatened. The American Automotive Policy Council, an industry group representing the Detroit Three automakers General Motors, Ford and Stellantis, is worried that the Japan deal could hurt companies making cars across North America. The 15% Japan tariffs are lower than the 25% on Canada and Mexico, where many American car brands manufacture their cars, trucks, vans and SUVs. 'Any deal that charges a lower tariff for Japanese imports with virtually no U.S. content than the tariff imposed on North American built vehicles with high U.S. content is a bad deal for U.S. industry and U.S. auto workers,' Matt Blunt, president of the American Automotive Policy Council, said in a statement. Commerce Secretary Howard Lutnick pushed back against complaints that U.S. automakers could face higher tariffs than companies making cars fully in Japan. 'That's just so silly,' he said in a CNBC interview. 'The American manufacturers are going to do extremely well in America as long as they build it in America.' Car companies haven't really upped prices yet as a result of tariffs, but that may change. 'What the challenge is going to be for the back half of the year is to figure out, will they continue absorbing a majority of the tariff impact or will we start to see that increase in consumer pricing as they start to try to pass along some of the impact,' said Erin Keating, Cox Automotive executive analyst. Cox Automotive anticipates car prices may rise 4%-8% by the end of the year. It also found that inventory of both new and used cars dropped in July. And tariffs might mean fewer toys on the shelves this holiday season. Hasbro reports some retailers are pausing or slowing down imports of holiday inventory. 'A lot of hot products are going to likely be out of stock this holiday because we're just not going to be able to replenish them because we didn't have the upfront inventory for them,' Hasbro CEO Chris Cocks said. 'So like a Play-Doh Barbie, a Nano-Mals, a Baby Evie. If you're a mom or a dad, you're probably going to want to go and buy that early.'
CNBC
3 days ago
- Automotive
- CNBC
These charts show just how hard Trump's tariffs are hitting Europe's auto giants
U.S. President Donald Trump's tariffs on European car imports were always expected to hit hard — but a recent flurry of trading updates and corporate earnings from the region's top automakers can now showcase the impact. Seeking to protect and strengthen the U.S. automotive sector, Trump imposed 25% tariffs on foreign-made vehicles and car parts in early April. The automotive sector is widely regarded as acutely vulnerable to levies, particularly given the high globalization of supply chains and the heavy reliance on manufacturing operations across North America. The U.S. president also raised tariffs on steel and aluminum imports to 50% for most countries. Steel and aluminum are essential materials for durable goods like cars and refrigerators. Trump recently threatened to raise duties on EU auto imports to 30% from Aug. 1, ramping up the pressure on the 27-nation trading bloc. The European Commission, the EU's executive arm, has since been considering its response. In a surprise update on Monday, Jeep maker Stellantis said that Trump's tariffs had cost the company hundreds of millions of dollars. The multinational conglomerate, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, said it expects to have suffered an initial hit of around 300 million euros ($351.1 million) due to net tariffs incurred over the first half of the year. Stellantis Chief Financial Officer Doug Ostermann also said that the full-year impact of U.S. tariffs could climb to 1-1.5 billion euros, according to Reuters. The company's financial results for the first six months of 2025 will be released on July 29. Sweden's Volvo Cars, which is seen as one of the most exposed European carmakers to U.S. tariffs, recently reported a sharp year-on-year decline in second-quarter operating profit. The company said last week that second-quarter operating profit excluding items affecting comparability fell to 2.9 billion Swedish kronor ($302.3 million), down from 8 billion during the same time last year. In response to Trump's tariffs, Volvo Cars CEO Håkan Samuelsson told CNBC's "Europe Early Edition" on Thursday that the company intends to add its best-selling XC60 sports utility vehicle to the production line of its car plant in South Carolina. Elsewhere, French carmaker Renault on Wednesday lowered its 2025 guidance and announced the appointment of Duncan Minto as interim chief executive officer. Renault has fared better than many of its European peers in recent months, with a flurry of new launches boosting sales in key markets. The automaker, which is not directly present in the U.S. market, has previously been singled out as a company that is relatively insulated from the trade disruption caused by Trump's tariffs. Even so, Renault has still faced pressure from muted European demand and rising competition from Chinese car manufacturers. Several European car giants are still to report corporate results. Among them, Germany's Volkswagen, Europe's top carmaker, is scheduled to report half-year results on Friday.
