Volvo Car Sales a Wreck in June

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By Douglas A. McIntyre Updated Published
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Volvo Car Sales a Wreck in June

© Volvo Car USA

Volvo is supposed to be the next major luxury car company in America. It has received a number of awards for its new models. But for its statements about its American goals to be true, Volvo has to produce strongly growing sales and garner market share from the market leaders. Instead, it is losing a great deal of ground. Sales fell 15% in June to 7,303.

Not a single model posted impressive figures. Sales of its S90 rose 11,850% to 956, against a base of eight last year.  Sales of the all-new XC90 were higher but only rose 2.1% to 2,751. Sales of the S60, V60 and the XC60 were down in double digits.

The Volvo U.S. experiment is among the first by a Chinese-owned company. It is owned by huge manufacturer Geely of China. If Volvo’s sales experiment continues, it may be a long time before another Chinese company tries again.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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