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Chinese owned Volvo Cars (VOLCAR B:STO)* today announced a SEK 11.4 billion (~$1.2B) non-cash impairment charge in Q2 of 2025. Volvo is adjusting the financial assumptions for the EX90 and ES90 platform, because of previous launch delays and import tariffs in several markets. Among other woes, Volvo can’t sell the ES90 profitable in the U.S. Volvo Cars will publish its second quarter 2025 financial results on Thursday, 17 July 2025 at 07:00 CEST.**
“Given market developments such as import tariffs in the US, development and launch delays for the EX90 and strategic investment prioritizations, we have reassessed volume assumptions for these two cars. This has resulted in a lower than planned lifecycle profitability,” said Fredrik Hansson, CFO at Volvo Cars. Continue reading
Another Ford Mach E Electrical System Recall
Ford Motor Company (NYSE: Ford) is recalling 239 2022 model year Mustang Mach E vehicles equipped with an extended range battery.* The high voltage battery main contactors may overheat. This recall is an expansion of a previous NHTSA recall number 23V687 or 23V-687 because of a calculation error. Ford is operating under a consent order from NHTSA because of its handing of recalls.
“The recalled Bussed Electrical Center parts NK48-10C666-AA, NK48-10C666-BA, or LK98- 10C666-AB were introduced into production on 05/27/2020 and were taken out of production on 05/27/2022. Vehicles produced 5/27/2020 through 5/24/2022 are included in the original recall population (23V687). Affected vehicles are equipped with the extended range battery, but without the GT powertrain. These vehicles are not produced in VIN order,” Ford told the National Highway Traffic Safety Administration (NHTSA) in the mandatory safety defect recall filing that NHTSA made public today. Continue reading →