# Volvo CEO Says China Market Is Disappearing as Luxury Weakness Persists

https://mins.news/en/video/112596

- Bloomberg Television, 2026-10-23 10:59 UTC
- Economy
- Original: https://www.youtube.com/watch?v=nCzsxmgD7ls

> Volvo plunged about 30% to a record low after its CEO said demand in China for Western-developed cars was disappearing rapidly, prompting another 2,500 job cuts. Hermès and Cartier are also seeing sharper declines in China, as wealthy consumers’ spending pullback reaches even resilient luxury brands.

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