AutoExec Summary
VOLVO CARS has revised down its full-year retail sales forecast due to European tariffs on Chinese-made electric cars. The company, including Geely, has been impacted by trade barriers between China and the EU, affecting sales of the EX30 small SUV. Volvo will shift production to Belgium to avoid tariffs and has lowered its EV sales growth forecast. In Q2 2024, Volvo produced more EVs than it sold.
Brands mentioned: Volvo, Geely, Tesla