Two weeks before Chinese-owned Volvo Cars announced on Sept. 20 that Škoda Auto Chairman Klaus Zellmer would become its next CEO, Zellmer told t-online of Germany that it's certainly conceivable that Škoda models could one day be built in India and exported to Germany. Was he perhaps revealing the future of the low-cost Škoda brand before he jumped ship? Volvo's current CEO, Håkan Samuelsson, told the Financial Times late last week that trade with China in the other direction, meaning European cars assembled and sold in China, is "on its way towards zero.” Volvo's sales in China are collapsing, and it will be years before its locally produced vehicles are competitive there. Volvo is also working toward producing Chinese models in Europe, but the Swedish company's share price has fallen by 65% this year and by 23% in the past week. Analyst Harry Martin of Bernstein wrote in a research note that, “We struggle to see things improving any time soon.” He added that Zellmer "has an even harder job on his hands now than when he was announced" as the next CEO. Yet Zellmer no doubt knew what he was getting into, and he still chose Volvo over Volkswagen.
FinalWord.by Erik Bestfinalword.cz |
 Source: Volvo Cars China Volvo vs VWTue, Oct 27, 2026 Two weeks before Chinese-owned Volvo Cars announced on Sept. 20 that Škoda Auto Chairman Klaus Zellmer would become its next CEO, Zellmer told t-online of Germany that it's certainly conceivable that Škoda models could one day be built in India and exported to Germany. Was he perhaps revealing the future of the low-cost Škoda brand before he jumped ship? Volvo's current CEO, Håkan Samuelsson, told the Financial Times late last week that trade with China in the other direction, meaning European cars assembled and sold in China, is "on its way towards zero.” Volvo's sales in China are collapsing, and it will be years before its locally produced vehicles are competitive there. Volvo is also working toward producing Chinese models in Europe, but the Swedish company's share price has fallen by 65% this year and by 23% in the past week. Analyst Harry Martin of Bernstein wrote in a research note that, “We struggle to see things improving any time soon.” He added that Zellmer "has an even harder job on his hands now than when he was announced" as the next CEO. Yet Zellmer no doubt knew what he was getting into, and he still chose Volvo over Volkswagen. |
