Volvo Cars shares tumbled as much as 14% on Friday after its parent company Zhejiang Geely Holding Group began a sale of around 100 million shares in the Swedish carmaker. Geely sold the shares to increase the liquidity of Volvo and "offer more opportunities to generate sustainable long-term value for institutional and retail investors." Geely will still hold 78.7% of Volvo shares following the sale. The sold shares represent over 3% of Volvo.