Volvo Cars posted a surprise profit as EV sales rose and cost cuts took hold

The Swedish automaker earned SEK 1.6 billion in operating income despite a drop in overall revenue and U.S. tariff headwinds

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Volvo Cars reported first-quarter operating income of SEK 1.6 billion, with an EBIT margin of 2.2%, as growth in fully electric vehicle sales and progress on cost reductions offset a challenging global environment, the company said.

Revenue for the quarter fell to SEK 72.6 billion from SEK 82.9 billion in the same period a year earlier. Basic earnings per share rose to SEK 0.54 from SEK 0.40 in the first quarter of 2025.

Sales of........

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