News Column

Volvo Cars Sales Drop 6.1 Percent in 2012

January 7, 2013

China-owned Volvo Cars on Monday reported a 6.1-per-cent drop in global sales for 2012 over the previous year, citing the economic slowdown in Europe.

The carmaker said it sold 421,951 cars. Its main market was the United States where it sold 68,079 cars, an increase of 1.2 per cent on 2011. It said demand was strong for the Volvo S60 and XC60 models.

In China, where the carmaker said it was facing fierce competition, sales dropped almost 11 per cent year-on-year to 41,989 cars, while in Sweden it sold 51,832 cars, down 11.3 per cent on 2011.

Sales in Germany decreased by 1,097 cars on 2011 to 32,070 cars.

Volvo Cars' five main markets in 2012 were the US, Sweden, China, Germany and Britain.

China-based Zhejiang Geely Holding Group in 2010 took over ownership of the Swedish carmaker from US automotive giant Ford.

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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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