Volvo Cars see 25% sales drop in sales in April

Volvo Cars’ monthly sales declined 24.8% in April from a year earlier due to lockdowns in China and disruption in the global supply chain.

The automaker said that demand remained strong, while the share of fully electric cars increased to 10% from 9% in March. It wants 50% of its sales to be represented by electric cars by the middle of this decade.

“In April, Covid-19 lockdowns in eastern China impacted retail deliveries in the country and added more challenges to already weakened global supply chains, resulting in further loss of production,” the automaker said.

The automaker’s sales in China declined 47.8% in April, while in the United States they declined 9.2% and declined by 23.2% in Europe.