Tag Archives: Jim Rowan

First Look – All-Electric Volvo ES90 Hatchback

Posted on 5 March 2025 by Ken Zino

Volvo Cars (VOLCAR B:STO) today debuted an all-new, fully electric ES90. With order-books open now in some markets, the ES90 is the latest addition to  Volvo cars. It is the sixth fully electric model in the line, joining the EX90, EM90, EX40, EC40 and EX30 as Volvo continues to covert to full electrification.

“The ES90 combines the refined elegance of a sedan, the adaptability of a fastback, and the spacious interior and higher ground clearance associated with SUVs. It’s a versatile car that does not compromise on comfort or space. A car that allows for bigger adventures and families, striking the perfect balance between your professional and private life, and allowing you to embrace the special moments in life,” Chinese-owned Volvo Cars said. Continue reading →

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First Look – New Volvo EX30 Cross Country

Posted on 10 February 2025 by Ken Zino

Volvo Cars (Nasdaq Stockholm VOLCAR B)* at a literal fireside chat in the North of Sweden revealed today the new EX30 Cross Country SUV. Outdoors equipment brand Fjällräven was part of the show. The EX30 Cross Country is a compact fully-electric SUV. The Volvo EX30 Cross Country is available to order now in selected markets, with deliveries starting later this spring. It will eventually appear in North America.**

“We launched our first Cross Country car over 25 years ago, and this concept of durable and all-weather cars is core to the Volvo brand,” said Jim Rowan, Volvo Cars’ CEO. “In Sweden we face harsh winters, but we also like to make the most of them by getting out and exploring our amazing nature, even when it’s minus 20 Celsius outside. That’s why we want to deliver a fully rounded experience, not simply a car, to our EX30 Cross Country customers.” Continue reading →

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Volvo Cars Posts Record Sales, Revenue, Profits in 2024, but…

Posted on 6 February 2025 by Ken Zino

Volvo Cars (VOLCAR B:STO)* today posted a record-breaking year in 2024 with the highest full-year retail sales, revenues and core operating profit in its 98-year history. However, the Chinese owned company anticipates a turbulent 2025 “due to challenging market conditions,” aka Trump’s Trade and Tariff Wars.** “Full-year revenues exceeded SEK 400 billion for the first time in the company’s history, due to a new all-time sales record of 763,389 cars. Its full-year core operating profit of SEK 27 billion, excluding joint ventures and associates, was another record and up 6% compared to 2023. The core operating margin came in at 6.8%, up from 6.4% in 2023,” Volvo said. Continue reading →

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Volvo Cars Posts Q3 Profit of SEK 5.7 Billion off from 6.1B

Posted on 23 October 2024 by Ken Zino

“However, achieving these ambitions will not be straightforward since the weakness in the market has recently accelerated – a fact also echoed in revised industry forecasts for 2024 and 2025 by third-party analysts. Overall industry demand continues to soften and is now affecting the premium segment. Our journey towards 2026 will not be linear, as our industry is facing an increasingly volatile environment,” said Jim Rowan, chief executive for Volvo Cars. “Macroeconomic headwinds are intensifying, as is geopolitical complexity. Despite these challenges we demonstrated resilience during the third quarter of 2024, which is reflected in our overall financial performance.”

“Given this accelerating weakness in the market and Volvo Cars’ focus on safeguarding value over volume, the company expects minimal volume growth during the fourth quarter. As a result, it now anticipates full-year sales growth of 7-8%, instead of its earlier forecast of 12-15%,” Volvo said. Today Volvo Car AB closed at SEK 22.49, only 0.47% above its 52-week low of 22.38 set on 16 October 2024.
Continue reading →

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Deputy CEO Björn Annwall Leaves Volvo Cars

Posted on 9 October 2024 by Ken Zino

Volvo Cars (VOLCAR-B.ST)* today announced organizational changes that it said, “are designed to increase simplicity, speed and collaboration and reduce complexity by flattening our structure in the Commercial part of the business.” It is enhancing the responsibilities of the regions and empowering the employees that are closest to the customers to make key decisions. In a surprising move, Björn Annwall, current Chief Commercial Officer & Deputy CEO will support the transition of the new organization before taking his next step “outside of Volvo Cars.” The stock is currently trading at an all-time low.

“In a rapidly changing world, we need to ensure our organization is equipped to navigate a more challenging market. We are now regrouping our commercial leadership team with a focus on making Volvo Cars even stronger with increased speed and efficiency,” said Jim Rowan, CEO at Volvo Cars. Continue reading →

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