Volvo Cars sales decline sharply in first quarter

In particular, sales in the U.S. market fell sharply, by 28 percent. Volvo Cars said it was affected by developments in the Middle East. In addition, the U.S. has discontinued subsidies for electric cars, which has had a negative impact, Volvo Cars said.

The Chinese market also saw a sharp decline. Sales decreased by 17 percent, mainly due to competition in the market.