Volvo Car Sales a Wreck in June
Volvo's US sales fell 15% in June. The brand, owned by China's Geely, is supposed to be that country's first foray into the luxury US car market.
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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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