Volvo Car said car sales fell 21.5% year-on-year in July as coronavirus lockdowns in China continued to cause supply constraints, mainly hitting retail deliveries of fully electric and plug-in hybrid cars.
The Swedish carmaker – majority owned by China’s Zhejiang Geely Holding Group – said it sold 44,664 vehicles in July, down from 56,883 in the same month last year.
In Europe, sales fell 29.1% to 15,893 vehicles, while sales in China rose 6.4% to 15,487 cars.
The company announced a 40.7% drop in US sales to 6,868 vehicles.
Volvo said last month it was seeing a marked improvement in the supply situation, but noted on Wednesday that supply constraints are expected to continue to hurt retail sales in the current quarter.
Source: Capital
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