Volvo Cars CEO Hakan Samuelson said that since the decline in the Chinese market has exceeded expectations, the company has abandoned the goal of increasing sales throughout the year, but he expects the second half of the year's performance to “improve significantly” compared to the first half of the year as costs are cut and new models are introduced.

Volvo Cars CEO Hakan Samuelson said that since the decline in the Chinese market has exceeded expectations, the company has abandoned the goal of increasing sales throughout the year, but he expects the second half of the year's performance to “improve significantly” compared to the first half of the year as costs are cut and new models are introduced.