Volvo Shares Plunge as China Ambitions Fade for Western Carmakers NYT - Business By: James Paton 23 October 2026 at 13:08 The Swedish automaker plans to cut another 2,500 jobs, joining competitors in offering a gloomy view of the world’s biggest car market. © Marie Mannes/ReutersVolvo’s chief executive, Hakan Samuelsson, last April. “Nobody will be successful with the old recipe” for selling cars in China, he said Friday. “Those times are gone.”
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