Exclusive: Volvo shifts production to avoid tariffs, chases record sales [Reuters]
Morgan Stanley (MS)
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Source: Reuters
Exclusive: Volvo shifts production to avoid tariffs, chases record sales | Reuters 4 Min Read PARIS/STOCKHOLM (Reuters) - Volvo Cars ( IPO-VOLVO.ST ) is juggling production of its top-selling SUV to avoid U.S. import tariffs, Chief Executive Hakan Samuelsson told Reuters on Thursday, as the Swedish carmaker set its sights on a fifth straight year of record sales. The company is shifting XC60 SUV production for the U.S. market to Europe from China to avoid Washington’s new duties on Chinese imports, Samuelsson said in an interview after unveiling a 29 percent increase in second-quarter operating profit. Volvo, whose Chinese parent Geely is weighing up a stock market listing for the company, currently builds the compact XC60 in Sweden for European customers and in China for that market and others including the United States. “We will of course reshuffle here and take XC60s for the U.S. ... from our factory in Europe, and let China produce for other markets,” the CEO said, adding that
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