STOCKHOLM – Volvo Automotive Group’s Could gross sales had been down 28.3% from a 12 months earlier, the Sweden-based automaker mentioned on Thursday, as provide chain issues and lockdowns hampered manufacturing.
Volvo mentioned nevertheless that demand remained robust, particularly for its Recharge line-up of electrical and hybrid fashions, including that absolutely electrical vehicles accounted for 7.9% of its Could gross sales.
The Gothenburg-based firm goals for 50% of its gross sales to be pure electrical vehicles by the center of the last decade.
“Throughout Could, the COVID-19-related lockdowns in japanese China continued so as to add extra stress to already strained world provide chains, leading to a lack of manufacturing,” Volvo mentioned in a press release.
Gross sales in China on the firm, which is majority owned by China’s Geely Holding, had been down 43.8% in Could, whereas in the US they fell by 29.1% and in Europe by 24.3%.
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