Volvo Cars Returns to Profit With SEK 1.26 Billion Q2 Net

Volvo Car AB returned to profitability in the second quarter of 2026, reporting a net profit of SEK 1.256 billion compared to a net loss of SEK 7.512 billion during the same period last year. While the company recorded revenue of SEK 77.7 billion and operating income of SEK 0.8 billion, these figures reflected a dip in revenue from the prior year due to lower wholesale volumes, pricing pressures, and the absence of a one-time subscription car portfolio sale.

To stabilize finances, the company achieved SEK 5 billion in targeted full-year cost savings six months ahead of schedule and reduced its headcount by approximately 3,000 positions compared to the first half of 2025. Profitability was further supported by reductions in research and development, selling, and administrative expenses. To boost regional competitiveness, Volvo Cars signed a Memorandum of Understanding with the Belgian and Flemish governments regarding its manufacturing plant in Ghent.

CEO Håkan Samuelsson expects the second half of 2026 to outperform the first six months. This optimistic outlook is based on the ramp-up of the new EX60 electric SUV, continued growth in Europe, and a recovering U.S. market, which are expected to offset ongoing challenges in China.