Sweden-based Volvo Automobiles on Monday posted a 31% rise in gross sales in Could in contrast with a yr earlier, promoting 60,398 vehicles.
The 31% rise comes after a strained 2022, when the corporate, like different automakers, felt the consequences of persistent COVID-lockdowns in China, chip shortages and different provide constraints that hampered manufacturing.
As Volvo, majority-owned by China’s Geely, has begun recovering from 2022’s setbacks, gross sales figures have persistently been up for the previous few months.
Nonetheless, automakers’ worries should not but over as excessive prices linger. That pressured the corporate just lately to start a cost-slashing effort that has seen 1,300 jobs being reduce.
It additionally introduced in Could that manufacturing of its totally electrical SUV was delayed till 2024.
Within the firm’s largest market, Europe, gross sales rose 40%, whereas gross sales have been up 49% in China and 14% in america, Volvo Automobiles mentioned in a press release.
