“Sales in China remain weak, with a sharp double-digit decline in total industry volumes in April. This is due to increasing competitive pressure - particularly from new domestic players - and a challenging macroeconomic environment,” Volvo Cars writes.
“In the US, deliveries are still being impacted by record low consumer confidence, a slower recovery in sales of fully electric cars and plug-in hybrids after subsidies were eliminated, and increased pricing pressure in the SUV segment,” the automaker added.
But the order rate in Europe remains stable, according to Volvo Cars.
