Volvo’s global sales plummet

AutoTrader NZ
Published 3 September 2020

Volvo expects 2008 to be its worst sales year since 1996 as consumers stop buying in the worsening global financial crisis, European reports said today.

Quoting an un-named Volvo source, they said the Swedish carmaker is estimating global sales of 380,000 this year, not significantly more than the 363,322 it retailed in 1996 and almost 80,000 lower than last year.

Last year Volvo sold 458,323 worldwide, and has been selling more than 400,000 annually since Ford bought the company in 1999.

Sales in the crucial US market have fallen to 68,149 year-to-date, a 29.7 percent decline over the same period of 2007.

Ford has said it is considering Volvo’s future as part of its restructuring and concentration on the Ford brand. Among the options is selling the Swedish firm.

The Swedish government announced today that it is considering loans to help the ailing local automotive industry, including carmakers Volvo and Saab.