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Volvo Cars on Thursday announced plans to cut fixed costs by 2 billion Swedish crowns ($214 million), becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-US trade war were denting profitability.
Swedish truckmaker Volvo’s first commercial autonomous truck deal shows how it is bundling services to generate revenue from a technology that is years away from wide deployment.
Swedish truck maker AB Volvo reported a smaller than expected fall in fourth-quarter earnings in the face of slowing demand and announced plans for a payout to shareholders that exceeded market expectations.