Volvo Cars Registers ~25% Decline In April Sales

Swedish automaker Volvo Car Group has reported a 24.8% decline in April sales.
The company attributed the steep fall to lockdowns in eastern China due to a rise in COVID-19 cases and the persisting global supply chain challenges.
Electrified Recharge models grew 18.7% Y/Y, constituting 38.4% of total sales. Fully electric cars share was 10% in the month.
Car sales in the U.S. decreased 9.2% Y/Y. Sales in Europe fell 23.2%. China sales declined 47.8%.
Volvo Cars' top-selling car for the month was the XC60 with 14,952 units, followed by the XC40 at 13,876 units.
For the January-April period, Volvo Cars’ sales reached 195,445 cars, down 21.3% from last year.
Volvo Cars is owned by Zhejiang Geely Holding (Geely Holding) of China.
Volvo Cars formed part of the Swedish Volvo AB VLVLY until 1999 when the company was bought by Ford Motor Co F. In 2010, Volvo Cars was acquired by Geely Holding.
Photo Via Wikimedia Commons