Volvo Cars, which is majority-owned by China’s Geely Holding, said in a statement it sold 60 244 cars in November, a 10% drop from a year earlier, taking its year-to-date decline in volume to 8%.
The group, which is targeting a long-term operating profit margin of more than 8% as part of a recent strategy overhaul, said sales of fully electric cars rose 4% year-on-year to account for 24% of the overall volume.
Sales of electrified cars as a whole, which includes plug-in hybrids, were down 5% to account for 50% of total sales volumes. Volvo Cars did not provide a regional breakdown of demand, but said US sales remained subdued following the country’s phase-out of electric vehicle tax credits.
–SABC–
