The CEO of Volvo Cars, Håkan Samuelsson, has stated that a price war on cars could spread to Europe. He noted that competition is intensifying on the European car market, and there is a larger supply than demand. Samuelsson said that companies may need to lower prices in Europe, but this could be combined with reducing costs.
He also mentioned that there is a significant opportunity to see many new Chinese cars in Europe, as price pressure has already been strong in China and could now spread.
a price war on cars could spread to Europe
competition is intensifying on the European car market, and there is a larger supply than demand
companies may need to lower prices in Europe, but this could be combined with reducing costs
there is a significant opportunity to see many new Chinese cars in Europe, as price pressure has already been strong in China and could now spread