Volvo Cars reported an operating income of SEK 1.9 billion for the first quarter of 2025, down sharply from SEK 4.7 billion in the same quarter last year. The result highlights what the company describes as a more difficult global market with rising geopolitical uncertainty and intensifying competition in the automotive sector.
The report also marked the first quarterly results presented by newly appointed CFO Fredrik Hansson, who took over the role on 24 April 2025. In response to the tougher conditions, Volvo Cars has launched a SEK 18 billion cost and cash action plan aimed at improving efficiency and building a more resilient cost base.
“The numbers reflect the difficult environment that Volvo Cars and the wider automotive industry currently operate in,” Hansson said on LinkedIn.
“This plan will help us steer through the current turbulence and strengthen our foundation for the future.”
Hansson joined Volvo Cars in 2021 as Head of Global Controlling and Performance Steering and became Deputy CFO in 2023. He previously worked as a partner at McKinsey & Company, advising clients in the automotive industry. He holds a Master’s degree in Finance from the University of Gothenburg.
Volvo Cars CEO Håkan Samuelsson said Hansson’s strategic understanding and company knowledge will be key in navigating the current market challenges. Hansson replaces Johan Ekdahl, who leaves the company after nearly 10 years in senior financial roles.
In 2024, Volvo Cars achieved record results with a core operating profit of SEK 27 billion and global sales of over 763,000 vehicles.
