Volvo Cars' full-year sales fall despite a 13% rise in December

3 weeks ago 79

STOCKHOLM, Jan 5 (Reuters) - Sweden-based Volvo Car AB (VOLCARb.ST) said on Thursday its sales grew 13% year-on-year in December to 72,663 cars.

Full-year sales fell, however, by 12% to 615,121 cars.

"Volvo Cars’ full year sales performance was affected by challenges across the supply chain, as well as production restraints caused by component shortages and Covid-related lockdowns in China," Volvo Cars, which is majority-owned by China's Geely Holding (0175.HK), said in a statement.

"Despite this, demand for Volvo Cars remained robust," it said.

Reporting by Anna Ringstrom, editing by Terje Solsvik

Our Standards: The Thomson Reuters Trust Principles.

Read Entire Article