© Reuters. FILE PHOTO: A Volvo brand is seen on a rim displayed at a Volvo showroom in Mexico Metropolis, Mexico April 6, 2018. REUTERS/Gustavo Graf
STOCKHOLM (Reuters) -Sweden-based Volvo Automobiles stated on Thursday its automobile gross sales grew in December however fell for the total yr as a consequence of lockdowns in China, part shortages and different provide chain bother.
Volvo Automobiles, which is majority-owned by China’s Geely Holding, stated gross sales grew 13% year-on-year in December to 72,663 vehicles, a slight acceleration from November, however that 2022 gross sales fell 12% to 615,121 vehicles.
“Full yr gross sales efficiency was affected by challenges throughout the provision chain, in addition to manufacturing restraints brought on by part shortages and Covid-related lockdowns in China,” it stated in an announcement.
“Regardless of this, demand for Volvo Automobiles remained sturdy,” it stated.
Shares within the firm had been down 2% in early commerce.
Volvo Automobiles stated absolutely electrical autos in December accounted for 20% of automobile gross sales, unchanged from the earlier month. Recharge fashions, together with these not absolutely electrical, accounted for 44% within the month, up from 42%.
