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Posted by
Two Blokes Apr 29 -
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Stock
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Swedish-based automaker Volvo Cars on Tuesday announced plans to launch cost cuts of 18 billion Swedish krona ($1.87 billion) as its operating profit fell sharply in the first three months of the year. Volvo Cars, which is owned by China's Geely Holding, reported first-quarter operating profit of 1.9 billion Swedish krona, down from 4.7 billion krona from the same period last year.
