8 Companies That Could Go Out of Business Soon

companies that could go out of business6. Volvo

Quick, name 10 car brands. Were any of them Volvo? If they were, would you have thought of it if you hadn’t just seen the name as the title for this snippet? We didn’t think so. In the United States, Volvo currently owns a tiny 0.3% of the market share for automobiles. Its products offer nothing special, competing in the midsize near-luxury segment along with basically every other car manufacturer under the sun. The only thing it consistently has to brag about is safety but in a country with strict safety regulations, this doesn’t give it much headway with consumers.

While Volvo has never been a popular car in the United States, it doesn’t appear to be very popular around the world either. Having moved its home base from Sweden to China in 2010 when Zhejiang Geely Holding acquired it, dealerships have been committing fraud in the company’s new home by inflating numbers to gain cash incentives meant for customers. With a corporate culture like this, we’re surprised Volvo has survived the last 4 years.

 

ABOUT AUTHOR

Charlie is a recent college grad trying to make it in NYC. Born in a small suburban town, his thirst for success brought him to the big city, where he spends his days interning for multiple companies and trying to set himself apart from every other person with the exact same story as him.