Volvo Cars Q1 sales fall 11 percent on Middle East war
The Swedish automaker sold 153,316 vehicles in the first quarter as the conflict in Iran weighed on demand. While total volumes fell, electric sales rose 12%.
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VOLVO CAR AB-B, the premium automaker headquartered in Sweden, reported on Thursday that its first-quarter sales volumes fell by 11% compared to the same period last year. The company delivered a total of 153,316 vehicles through March, a decline attributed to the escalating conflict in Iran and persistent global market challenges. The manufacturer, which is majority-owned by China-based ZG GROUP, saw its most significant downturn in the Americas, where volumes dropped 28% due to weakened consumer sentiment and geopolitical instability.
