Volvo Witnesses Decline in Global Car Sales
(MENAFN) Volvo reported a decline in its worldwide vehicle sales, dropping by 11 percent in April compared to the same period the previous year, with a total of 58,881 units sold.
This update was shared by the automaker on Monday.
The Swedish company, which is under the ownership of Chinese automotive powerhouse Geely, has been grappling with challenges linked to United States Leader Donald Trump's tariffs.
These trade measures have contributed to the downturn in sales performance.
Sales of the firm's electrified vehicles—which include fully electric and plug-in hybrid models—also took a hit, falling by 16 percent.
Despite the drop, these environmentally friendly vehicles made up 45 percent of all units sold in April.
Of the total sales for the month, fully electric vehicles represented 20 percent, while plug-in hybrid cars made up 25 percent, indicating that nearly half of Volvo’s customers still opted for low-emission alternatives.
From January through April, the carmaker's cumulative sales amounted to 248,525 vehicles, showing a 7 percent decrease compared to the same stretch last year.
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