TLDRVolvo shares fell more than 26% on Friday, reaching record lows after disappointing quarterly results.Third-quarter revenue declined 22.6% to 66.9 billion Swedish kronor, while net losses reached about $573 million.Volvo announced 2,500 additional job cuts as part of a new 5 billion kronor savings plan.Revenue in China fell nearly 50% amid rising competition, while US tariffs continued to pressure margins.Volvo expects the full benefits of its new cost-saving measures by the end of 2027.Volvo shares plunged more than 26% on Friday, October 23, after the Swedish carmaker reported a third-quarter loss and announced 2,500 additional job cuts.The decline sent the stock to record lows. Volvo Cars, which China’s Geely Holding controls, has lost more than two-thirds of its market value this year.Volvo Shares Fall After Quarterly LossVolvo reported third-quarter revenue of 66.9 billion Swedish kronor, down 22.6% from 86.4 billion kronor a year earlier. Its operating result shifted from a 6.4 billion kronor profit to a 5.6 billion kronor loss.The company posted a net loss of 5.73 billion kronor, or about $573 million. Its adjusted operating loss reached 3.7 billion kronor, against analysts’ expectations of 724 million kronor. Separately, Tesla’s latest earnings showed a 56% decline in operating profit.Volvo’s gross profit margin fell to 14.7% from 20.4% a year earlier. The company reported a cash outflow of 8.9 billion kronor, more than double the figure recorded in the third quarter of 2025.Revenue in China fell nearly 50% as local brands increased price competition. US tariffs and reduced electric vehicle incentives added pressure. Volvo withdrew its 2026 sales and cash-flow forecasts on October 2.Volvo Plans Another 2,500 Job CutsVolvo will remove about 2,000 positions in Sweden and 500 elsewhere, affecting roughly 6% of its workforce. The company will end consulting contracts, allow some departures without replacements and offer targeted exit packages. A recent automotive software study described wider development and testing problems across the industry.These reductions follow an earlier plan to cut 3,000 jobs. Volvo now seeks another 5 billion kronor in savings from overhead and other costs. It expects the full financial benefit by the end of 2027.Volvo plans 13 new vehicles by 2030, including models designed for China. The wider battery industry continues developing new production methods, with QuantumScape outlining plans for a 100-megawatt-hour solid-state battery line in 2028.Volvo will work more closely with Geely on six China-focused models and start producing two next year. It plans to build the XC60 in South Carolina from early 2027 while introducing a lower-priced electric car in Europe later that year. The post Volvo Shares Hit Record Low After Q3 Loss: What’s Next? appeared first on Blockonomi.