The Director Of Volvo Declares A Price War In Europe

China is a kind of battlefield where more than 150 car manufacturers collide. In the end, it all boils down to a fierce price war, that is, big discounts and uncertainty on the market. Namely, the question is who will survive this chaos and who can last longer working without serious earnings.

However, if we listen to Volvo’s CEO, the same trend could spread to the European continent and market.

– Yes, you can probably count on that. Because there is more supply than demand. ‘Here in Europe, there is a high possibility that we will see many new Chinese,’ says CEO of Volvo Cars Håkan Samuelsson.

He notes that companies may have to lower prices in Europe as well:

– But you can combine that with cost reduction.

Fierce Chinese competition could encourage the same trend in Europe as in China. In the first moment, customers could be satisfied, but this could also result in uncertainty in the European auto industry, which is not in the best of health anyway. Let’s use the medical dictionary. Will European manufacturers like Volkswagen, Renault, Peugeot, Fiat, and Skoda, but also Toyota, Hyundai, and Kia, be involved in a price war? Time will tell; the only thing certain is that after BYD, MG, Leapmotors…, the number of Chinese manufacturers in the European market will grow.

• Also See: Official: Volvo Has Discontinued The Electric EX30 SUV For The US Market