STOCKHOLM (Reuters) -Volvo Cars sold 48,029 cars in August, down 9% from a year earlier, the Sweden-based company said on Thursday. Volvo Cars, which is majority-owned by China’s Geely, said in a statement sales of fully electric cars fell 28% to account for 20% of total sales volumes. Sales of electrified cars as a whole, […]
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Volvo Cars’ August sales fall 9%
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STOCKHOLM (Reuters) -Volvo Cars sold 48,029 cars in August, down 9% from a year earlier, the Sweden-based company said on Thursday.
Volvo Cars, which is majority-owned by China’s Geely, said in a statement sales of fully electric cars fell 28% to account for 20% of total sales volumes.
Sales of electrified cars as a whole, also including plug-in hybrids, were down 17% and accounted for 43% of total sales volumes.
Volvo Cars in July reported a sharp drop in quarterly profit, saying demand remained soft and volatile amid weakening consumer confidence while new tariffs posed challenges for the auto industry.
(Reporting by Stine Jacobsen, editing by Essi Lehto and Terje Solsvik)