Volvo Cars falls as Q3 sales slump 11% on China, U.S. weakness

Volvo Cars reported a significant 11% decline in Q3 global sales, with the Swedish carmaker's shares falling as much as 6.8% following the announcement. The slump was primarily driven by a sharp drop in China and weaker-than-expected recovery in the United States. While sales in Europe and other markets provided some support, the market downturn in China showed no signs of easing, with sales plunging 40.6% to 20,284 vehicles.

Premium-car sales in the region also fell sharply, reflecting weak consumer demand and tough competition. Despite a 51% increase in the sales of fully electric cars and a 12% rise in electrified models, the overall sales performance was disappointing.

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