Volvo drops 2026 sales and cash flow goals
Volvo Cars, owned by the Chinese group Geely, has retracted its previous forecasts for sales and cash flow in 2026 due to deteriorating market conditions, particularly in China and the United States, along with weak demand for electric vehicles and rising development costs. The company announced that its sales in the third quarter declined by 11% compared to the same period last year, reporting that the Chinese market still faces significant pressures, with a slowdown in the recovery of the US market, while the European market remained strong. Additionally, the company's stock price dropped by 3%, reaching its lowest level since the beginning of the year, losing about 50% of its value in one year.
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