Volvo Car Stock News

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.

Global sales fell 7.4% on year in the quarter, with demand hit by continuing market challenges in the U.S. and China.

Sweden's ​Volvo Cars ‌said on Monday ​it ​will close its ⁠Stockholm ​office, where ​450 people currently work, ​relocating ​responsibilities to its ‌Gothenburg ⁠headquarters as part of ​an ​effort ⁠to cut ​costs ​and ⁠boost efficiency.