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Volvo Reports Decline in April Sales as Tariff Troubles Loom
(MENAFN) Global car sales for Volvo experienced an 11% year-over-year decline in April, reaching 58,881 units, the company revealed on Monday.
The Swedish automaker, a subsidiary of China's Geely, is reportedly grappling with challenges stemming from tariffs imposed by the United States.
Sales of Volvo's electrified vehicle range, encompassing both fully electric and plug-in hybrid models, also saw a decrease of 16% in April. These models constituted 45% of the total cars sold during the month. Specifically, fully electric vehicles accounted for 20% of the April sales, while plug-in hybrids made up 25%.
Looking at the first four months of the year, Volvo's total car sales amounted to 248,525 units, marking a 7% decrease compared to the same period last year.
The Swedish automaker, a subsidiary of China's Geely, is reportedly grappling with challenges stemming from tariffs imposed by the United States.
Sales of Volvo's electrified vehicle range, encompassing both fully electric and plug-in hybrid models, also saw a decrease of 16% in April. These models constituted 45% of the total cars sold during the month. Specifically, fully electric vehicles accounted for 20% of the April sales, while plug-in hybrids made up 25%.
Looking at the first four months of the year, Volvo's total car sales amounted to 248,525 units, marking a 7% decrease compared to the same period last year.
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