Volvo Cars fourth-quarter profits tumble on tariff hit, challenging market

Feb 5 (Reuters) - Volvo Cars' fourth-quarter profit fell 68%, hit by tariffs and weak demand, as the Sweden-based automaker warned on Thursday that ​external factors continued to pose challenges. Operating profit excluding items affecting comparability ‌at the group, which is majority-owned by China's Geely Holding, fell to 1.8 billion crowns ($199.9 million) ‌from 5.6 billion crowns a year earlier on a 16% sales drop. "External factors (affected) our performance, such as EU-U.S. import tariffs and the ...