Volvo Cars’ Stock Skyrockets 40% After Surprise Profit Surge – Biggest Jump Since IPO
Volvo’s Cost-Cutting Turnaround Delivers a Big Win Volvo Cars delivered a stunning earnings surprise on October 23, posting third-quarter profits nearly four times higher than analysts expected reuters.com. This sharp turnaround comes after months of belt-tightening under CEO Håkan Samuelsson, who returned to lead the Swedish automaker earlier this year. In just half a year, Samuelsson has executed sweeping cost-cut measures – axing 3,000 jobs, freezing new investments, and even withdrawing profit guidance – to combat “faltering” margins and an industry slowdown reuters.com. Those tough measures worked faster than anyone anticipated. “What we’re now seeing is really, wow okay, this