Global auto giant Volvo has reported a decline in sales for the first time in three years, with a 5.5% drop in vehicle deliveries worldwide. Despite strong demand for electric vehicles (EVs) in Europe, which helped to boost the brand's sales in the region, weakness in the Chinese market has offset these gains. Volvo's Chinese sales have been hit hard, with a 13.8% decline in the country, where the brand has struggled to keep pace with rising competition. As the automotive industry continues to navigate a rapidly changing landscape, Volvo's results raise questions about the company's ability to maintain its growth momentum.
Volvo global sales fall 5.5% as China weakness offsets EV gains in Europe CBT News
