Volvo B Stock News

The carmaker said further deterioration in the Chinese market and slow recovery in the U.S. led to lower-than-expected third-quarter sales.

Sweden-based ​Volvo Cars said ‌on Friday it will not fulfil its ​previous full-year outlook ​statements on volume and ⁠cash flow due ​to an increasingly challenging ​market situation and deteriorating near term outlook.

Klaus Zellmer, whose Škoda brand posted profit margins that rival those of BMW and Mercedes, will replace Håkan Samuelsson as Volvo pushes new models.

Volvo Cars said on Sunday that Klaus Zellmer would become its president and chief executive officer within a year as it seeks ​to revive sales in an increasingly competitive market.

In its largest-ever product push the carmaker will roll out seven new car models for Western markets and six for China by the end of the decade.

Volvo ​Cars plans to launch 13 new models between ‌now and 2030 as it seeks to broaden its range and revive sales, the Sweden-based ​automaker said ahead of an investor ​day in Stockholm on Thursday.

Sweden-based Volvo Cars said on Tuesday it had launched ​new variants, with longer electric ‌ranges, of its hybrid XC60 and XC90 models for the European ​and American markets.

Volvo Cars will become the exclusive ​distributor for Lynk & Co ‌cars in Europe starting January 2027, Lynk & Co ​brand owner Geely said ​on Thursday.