Volvo Cars, owned by China’s Geely Holding, stated on Wednesday it sold 40% more cars in May compared to April, as restrictions to control the spread of the COVID-19 coronavirus pandemic started to ease in some markets.
While still observing the drop of 25.5% in May from a year earlier, the automaker sold 44,380 cars in the month compared to the 31,760 sold in April, helped by increasing showroom traffic trends in Europe, recovery in the United States, and increasing demand in China.
Volvo said China sales increased 21.8% in May, where as U.S sales inched down 2.5% year-on-year but returned back strongly from April as states started to ease restrictions in place because of the pandemic.
Its sales in Europe dropped around 50% in the month, still heavily impacted by restrictions in many nations, but Volvo said the region had shown signs of recovery better than the previous month.
