Volvo Car Shares Slump Most on Record After Earnings Miss (2)

Volvo Car AB shares plunged the most on record after the Swedish-origin automaker closed out last year with worse-than-expected earnings.

Tariffs, discounting and a stronger Swedish krona weighed on fourth-quarter profitability, Volvo said Thursday. It reported an Ebit margin of just 2% and operating income that came in below analyst projections.

The shares fell as much as 20% in Stockholm, the steepest intraday drop since the stock started trading in October 2021.

For this year, the company targets rising sales and “clearly better” cash flow amid positive demand for new models including the EX60, an electric sport utility ...