STOCKHOLM, Oct 2 (Reuters)it – 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.
Volvo Cars said the market situation had resulted in lower-than-expected sales and a weaker full year outlook for the company.
“The decline is primarily driven by further deteriorating market conditions in China and slower than expected recovery in the US, while Europe remains resilient,” it said.
(Reporting by Anna Ringstrom, editing by Terje Solsvik)