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Volvo Cars says July sales up 14 percent
August 5, 2013 / 11:35 AM / 4 years ago

Volvo Cars says July sales up 14 percent

STOCKHOLM (Reuters) - Chinese-owned Swedish automaker Volvo Car Corp said on Monday it sold 33,650 cars in July, a 14 percent increase over the same period a year ago, citing brisk sales in China and Europe.

A Volvo employee takes off his overalls after his shift outside Volvo's car manufacturing plant in Goteborg October 8, 2008. REUTERS/Bjorn Larsson Rosvall/Scanpix Sweden

Languishing Chinese and European demand took a heavy toll on the car industry in 2012, sending Volvo’s operating profit tumbling. But in Europe, its biggest overall market, it achieved a 17 percent increase in sales in July.

    It said the United States was its largest single market that month, with almost 6,000 cars sold, just ahead of China where it saw a 62 percent surge in sales compared with the previous year.

    Volvo, wholly owned since 2010 by China’s Zhejiang Geely Holding Group Co. GEELY.UL, competes with global luxury brands BMW (BMWG.DE), Jaguar (TAMO.NS) and Volkswagen AG’s (VOWG_p.DE) Audi.

    Sales for the January to July period remain down by 3.2 percent. In June, they were down 10 percent from a year earlier.

    Reporting by Mia Shanley; editing by Tom Pfeiffer

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