COPENHAGEN—Sweden-based Volvo Car AB said on Wednesday its sales increased by 8 percent year-on-year in March to 63,132 cars, helped mainly by the company’s fully electric cars. Volvo Car said in a statement its fully electric models made up 41 percent of all its cars sold globally in the first three months of this year….
US Hits Volvo Group North America With $130 Million Penalty Over Delayed Recalls
WASHINGTON—A U.S. auto safety agency said Monday it was imposing a $130 million civil penalty on AB Volvo unit Volvo Group North America, following an investigation that found the manufacturer of heavy-duty trucks and buses failed to recall vehicles in a timely fashion. The National Highway Traffic Safety Administration (NHTSA) said Volvo Group agreed to…
Volvo to Stop Selling Petrol Cars in Australia by 2026
Chinese-owned Swedish auto giant Volvo will stop selling petrol vehicles in Australia by 2026, four years earlier than its global target to transition to electric vehicles (EV) by 2030. Stephen Connor, managing director of Volvo Australia, said the move would give the carmaker a “strategic advantage” in the market. “There is no long-term future for…
Volvo Cars Says March Sales Fall 22 Percent, Hurt by Chip Shortage
STOCKHOLM—Volvo Cars said on Monday car sales in March fell 22 percent to 58,677 cars as the automaker faced shortages of a specific semiconductor. Volvo, majority-owned by China’s Geely Holding, said the shortage is expected to impact production during the second quarter.
Volvo to Invest $283 Million in Brazil by 2025
SAO PAULO—Volvo’s Brazilian unit announced on Wednesday that it will invest 1.5 billion reais ($283.36 million) in the country by 2025, after reporting record truck sales last year. The figure will be directed mainly to research and development of products and services, said the Swedish company. In 2021, Volvo sold 21,800 trucks in Brazil, up…
Volvo Cars December Sales Drop as Chip Shortage Persists
STOCKHOLM—Volvo Car Group’s sales fell 18.1 percent in December pressured by the lingering global component shortage, the Sweden-based automaker said on Wednesday. Volvo, which has been heavily impacted by sector-wide supply-chain constraints and semiconductor shortages, warned in November that the chip shortage would continue into 2022. Global sales at the firm fell to 64,436 cars…
Volvo Cars Picks Ember Technologies Chief Jim Rowan as New CEO
STOCKHOLM—Volvo Car Group has appointed Jim Rowan as new chief executive to succeed long-time CEO Hakan Samuelsson in March, it said on Tuesday. Rowan, currently CEO at U.S-based Ember Technologies, is taking over just months after Volvo wrapped up its initial public offering, the biggest in Europe last year. He will face the task of…
Volvo Car Considers Opening Third Plant in Europe
BERLIN—Volvo Cars is considering building a third plant in Europe in order to boost its production capacity beyond 1.2 million vehicles per year, a company spokesperson said on Sunday. German autos publication Automobilwoche reported earlier on Sunday that the company was planning on building another European plant by the middle of the decade to meet…
Truck Maker Volvo Profit Beats Forecast, but Chip Woes Linger
STOCKHOLM—Sweden’s AB Volvo beat third-quarter core earnings expectations on Thursday, boosted by strong demand for its trucks even as lingering chip shortages hampered production. Shortages of components and freight capacity had resulted in production disruptions and increased costs, Volvo said in a statement. It also cautioned it expected further disruptions and stoppages, both in truck…
Volvo Adds 195,000 Vehicles to Recall for Dangerous Air Bags
DETROIT—Volvo is recalling another 195,000 vehicles in the United States because the front driver’s air bags could explode and send shrapnel into the cabin. It’s the company’s third U.S. recall for the issue with air bag inflators made by supplier ZF/TRW. It stems from the death of an unidentified U.S. driver. In all, the recalls…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`