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CEO Martin Lundstedt dropped the bombshell in the final moments of the truck and bus maker’s first quarter of 2025 earnings call, revealing an additional 200 or so jobs would be cut.

Volvo Group profit slumped 29% year over year in the first quarter of 2025 as uncertainty around tariffs and the impact on global trade hurt truck demand in North America and Europe.

The truck manufacturer confirmed earlier reports about the layoffs. The decision was made in the face of economic and regulatory uncertainty that has put downward pressure on orders.

Truck manufacturers are set to raise the prices of new Class 8 tractors as early as May as a result of tariffs on U.S. imports, with further hikes likely on the way.

Volvo Car AB tapped its longtime CEO Hakan Samuelsson to retake the helm as the Swedish automaker tries to navigate its way out of a malaise worsened by looming U.S. tariffs.

EPA has yet to announce a timeline for the reconsideration of the GHG standards or re-evaluation of the NOx rule. Rulemakings typically take two or three years to formulate.

Key advances include an up to 7.5% improvement in fuel efficiency, upgraded safety systems and a tighter turning radius for navigating urban routes, the Volvo Group unit said.

Waabi will integrate its autonomous driving system, the Waabi Driver, with Volvo’s production-ready VNL Autonomous model. Commercial pilots will begin in Texas in the coming months.

Volvo and Mack continue to restrict new diesel truck sales in Oregon despite recent uncertainty over reporting requirements for zero-emission vehicle sales being resolved.

LAS VEGAS — Volvo Group CEO Martin Lundstedt outlined the global truck manufacturer’s vision for a cleaner, safer and more productive transportation industry at CES 2025.