Reuters
Volvo Cars sales fall 11% in April as fully electric cars slump
Volvo Cars, which is majority-owned by China’s Geely, said in a statement sales of fully electric cars fell 32% to account for 20% of total sales volumes. Sales of electrified cars as a whole, also including plug-in hybrids, were down 16% to account for 45% of total sales. Volvo Cars, under pressure from U.S. President Donald Trump’s new tariffs, is juggling the task of working with Geely to cut costs while attempting to keep selling cars to U.S. consumers, who favour hybrids and combustion-engine models.
