The story so far · 2 days, October 23 to 24, 2026
One Turn followed this story across 2 editions, from Gothenburg, Sweden on October 23, 2026. Newest first.
Volvo Cars is based in Sweden and owned mostly by China's Geely. Foreign carmakers face strong competition from Chinese brands in China.
Open the latest on the 3D globe →
Volvo Cars shares fell 24% after the company reported weak third-quarter results. Its CEO said a slump in China sales came "faster than we thought." Tougher conditions in China and the US hurt the company's free cash flow.
Why it matters: The drop shows how weaker Chinese demand and US trade barriers hit European carmakers and their workers.
Sources: CNBC · See it on the globe
Volvo Cars shares fell 24% after third-quarter results, with the CEO saying a sales slump in China came 'faster than we thought'. The company said tougher market conditions in China and the US hurt free cash flow.
Why it matters: The drop reflects pressure on Western carmakers from weaker Chinese demand and US trade conditions.
Sources: CNBC · See it on the globe