(April 2): Volvo Car AB said the war in Iran hurt US demand in the first quarter, offering one of the clearest signs yet that the conflict is starting to dent sales as higher fuel prices curb spending. The automaker’s global sales fell 11% in the three months through March, Volvo said on Thursday. There, “weak customer sentiment was exacerbated by the ongoing geopolitical conflict in the Middle East,” the Swedish-origin company said. Volvo’s warning underscores the growing risk for European and US manufacturers as the Iran war drives up fuel prices and shipping costs and weighs on wider economic sentiment. Volvo isn’t alone in what was a difficult start to the year for automakers in the US.

Source: The Edge Markets April 02, 2026 09:42 UTC