GgoogleIT first seen 6 d ago, last 4 d ago, peak #2

Volvo Cars shares plunge 24% on China slump and job cuts

Original: volvo

Volvo Cars shares fell about 24% after CEO Håkan Samuelsson said the collapse in China sales came 'faster than we thought', arguing the Chinese market is effectively gone for Western automakers. The company also announced additional job cuts to counter mounting headwinds, deepening investor concern about its outlook.

Why now: A steep single-day share drop combined with stark comments about losing the Chinese market has drawn wide attention.

Volvo CarsHåkan SamuelssonChinaGeely

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Evidence

• Volvo Cars plunges 24% as CEO says China sales slump came 'faster than we thought' · CNBC
• Volvo Car CEO Says China Market Gone for Western Automakers · Bloomberg.com
• Volvo Car Shares Slump After Automaker Adds Job Cuts to Tackle Mounting Headwinds · WSJ

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API: https://socialmediatrends-api.osmike.com/v1/trends/3348975