Volvo Cars plunges after Q3 miss, weak China and US weigh

** Shares in Volvo Cars VOLCARb.ST plunge about 25% after the automaker reported a sharp Q3 earnings miss

** Volvo reported Q3 revenue of SEK 66.9 billion ($6.75 billion), down 22.6% from a year ago and below market expectations, while wholesales fell 19% amid significant dealer destocking in China and the US, as per Jefferies

** Q3 EBIT came in at a loss of SEK 5.6 billion, roughly SEK 4.7 billion below consensus, with Jefferies pointing to weaker volumes

** The brokerage says China revenue fell about 50% year-on-year as domestic EV competition continued to pressure foreign brands, while US operations were hit by tariffs and the removal of EV incentives

** Operating and investing cash flow of SEK -8.7 billion was substantially weaker than expected, driven by working-capital outflows and leaving the group close to a net debt position, it adds

** Shares on track for the worst day ever

($1 = 9.9180 Swedish crowns)