Volvo Car AB (publ.) (VOLCAR_B) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Volvo Cars and our headquarters here in Gothenburg. My name is Erik Kronqvist and I'm the Head of Investor Relations here at Volvo Cars. We're here today to present the third quarter results that was released just earlier this morning. And with me, I have Håkan Samuelsson, our President and CEO, and Fredrik Hansson, our CFO. As per usual, we will start with a presentation and then we'll move into a Q&A session. If you would like to ask a question during the Q&A session, you can do so either by using the chat function or you can dial in. If you want to dial in, please scan the QR code, register and when on the call, press star one one. With that, I would like you to hand over to Håkan. Thank you, Erik, and good morning to all of you. If we look into the quarter and summarize it, I think it was a good quarter, solid performance on a very tough market. I mean, tough market, you saw that on the volume side, we were down 7%. The total market, I think the premium market down around 5%. So we definitely did not have any tailwind from the market, although it turned into positive in September. Pricing is also remained very tough, of course, on a shrinking market, but we managed to offset that in one area at least, and that with our best seller XC60 has been upgraded and that helped us a bit. Tariffs have been very turbulent. Right now it has clarified a bit. We know now that it will be 15% into the US and we know also it will be zero into Europe, which is 10% lower than before, which is an advantage for, for example, us selling EX90s to Europe. Altogether, we have then an EBIT margin of 7.4%, which I think is really good. What is also good is that we have achieved this with our own measures. It's not coming from outside. There were some, one of Fre...