Volvo's class A share, Volvo Car AB, has not been worth less since the car brand went public just over 3 years ago. The news about faulty electric cars hurts.
Volvo Cars' share price continues downward. In fact, the car brand on paper has not been worth less since the IPO almost 3 years ago.
In the course of 2024 alone , the stock has fallen by almost 27 percent on the stock exchange in Stockholm, where the brand is traded.
The latest decline began on Thursday last week, when Volvo, in connection with a so-called market day, told more about why the brand is not dropping the petrol car in 2030 anyway. Read more about it here.
On Monday of this week, the brand's value has fallen even more. At the beginning of the week, the price per share just over 24 Swedish kroner. On Tuesday, it fell to below 24 Swedish kroner. This corresponds to 15.6 Danish kroner.
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However, it is still many times more than sister brand Polestar, which is currently hovering perilously close to a limit that could mean the brand being thrown off the stock exchange. It is also known as a delisting.
However, in connection with the market day last week, Volvo also had several suggestions on how to reverse the development on the stock market.
Through billion-dollar savings on batteries, electric motors and so-called gigacasting of bodywork, the car brand must find the money that is currently gushing out of the coffers. Volvo will actually go so far as to take the manufacture of seats home from a sub-supplier.
The latter is probably a reaction to the bankruptcy of the sub-supplier IAC Group Sweden. The company, which manufactures cabins for cars and has Volvo on its customer list, went bankrupt with a debt of billions in June.
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