Volvo Cars reports 25% sales drop in April as lockdowns, supply woes weigh – Reuters

An worker at a Volvo automotive supplier, sporting a defending masks is seen in a showroom, in Brussels, Belgium, Might 28, 2020. REUTERS/Yves Herman

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STOCKHOLM, Might 4 (Reuters) – Volvo Car Group’s (VOLCARb.ST) month-to-month gross sales fell 24.8% in April from a yr in the past, the Sweden-based mostly automaker said on Wednesday, as lockdowns in China and worldwide current chain factors hampered manufacturing.

The Gothenburg-based mostly agency said however that demand reprimaryed strong, whereas the share of absolutely electrical automotives rose to 10% from 9% in March. It goals for 50% of its gross sales to be pure electrical automotives by The center of this decade.

“In April, Covid-19 lockdowns in japanese China impacted retail deliveries in China and added extra challenges to alstudyy weakened worldwide current chains, Ensuing in further Lack of manufacturing,” Volvo said in A press launch.

Sales in China On The agency, which is majority owned by China’s Geely Holding (GEELY.UL), declined 47.8% in April, whereas in America they fell 9.2% and in Europe 23.2%.

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