Mon, 26 Oct 2026 09:30:07 GMT
Volvo Shares Plunge Amid China Sales Slump
Volvo Cars shares plunged on Friday, wiping out over a quarter of the Swedish automaker's market value following a rapid deterioration of sales in China. In response to intensifying competition and a nearly 50% drop in Chinese quarterly sales, the company announced plans to cut 2,500 jobs and reduce research and development spending. Despite the turbulence in the Asian and