Latest news with #impairmentcharge
Bloomberg
14-07-2025
- Automotive
- Bloomberg
Volvo Takes $1.2 Billion Charge Over Tariffs and EV Model Delays
Volvo Car AB is taking an impairment charge of 11.4 billion Swedish kronor ($1.2 billion) due to delays to some of its electric models and the escalating cost of tariffs. Past development setbacks and duties in the US have hit Volvo's battery-powered models, the EX90 sport utility vehicle and ES90 sedan. The effect of the one-time non-cash charge on net income will be 9 billion kronor in the second quarter, the carmaker said Monday.
Reuters
14-07-2025
- Automotive
- Reuters
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)
