COPENHAGEN (Reuters) -Volvo Vehicles offered 59,822 vehicles in Could, down 12% from a yr earlier, the Sweden-based firm stated on Wednesday.
Volvo Vehicles, which is majority-owned by China’s Geely, stated in an announcement gross sales of totally electrical vehicles fell 27% to account for 21% of whole gross sales volumes.
Gross sales of electrified vehicles as a complete, additionally together with plug-in hybrids, had been down 20% to account for 44% of whole gross sales. The corporate didn’t present element on regional gross sales.
Volvo Vehicles, beneath stress from U.S. President Donald Trump’s new tariffs, stated final month it will reduce 3,000 principally white-collar jobs because it grapples with excessive prices, a slowdown in electrical car demand and commerce uncertainty.
Shares within the firm, which in April withdrew its earnings forecast for the subsequent two years within the face of tariffs, had been up 0.5% at 0710 GMT.
(Reporting by Louise Rasmussen, modifying by Stine Jacobsen)