Volvo Cars has stated that it registered a 10% decline in sales in November, and this is in addition to an overall decline of 8% this year. It claims to be struggling with the industry wide problems that include trade tariffs and poor demand in the U.S. Whereas the sales of fully electric cars rose by 4% and now comprise 24% of all automobile sales, the total sales of electrified cars (including hybrids) declined by 5%. Volvo did not provide information on regions but mentioned that sales in the U.S. are low following the cut of EV tax credits. Nevertheless, the shares of the company are positive by approximately 35% this year despite the slowdown.
Volvo Cars Sales Fall 10% in November, Says US Market Subdued
