2 days ago
Volvo Cars books $1 bln impairment charge due to launch delays, tariffs
STOCKHOLM , July 14 (Reuters) - Sweden-based Volvo Cars ( opens new tab will book a one-off, non-cash impairment charge of 11.4 billion Swedish crowns ($1.19 billion) in the second quarter, it said on Monday.
"Volvo Cars is adjusting the financial assumptions for the EX90 and ES90 platform, due to previous launch delays and new import tariffs in several markets," it said in a statement.
($1 = 9.6103 Swedish crowns)
