Volvo Car Tweaks Sales Outlook on China EV Tariff Conflict

(Bloomberg) — Volvo Car AB has lowered its auto-sales forecast for this year slightly due to the potential impact of the European Union’s trade dispute with China over support for its electric vehicle (EV) industry.

The Chinese-owned manufacturer now sees retail sales growing between 12% and 15%, down from a previous projection of at least 15%, it said Thursday. Volvo Car’s second-quarter operating profit beat expectations, however, on robust demand for its EVs and plug-in hybrids.