Volvo AB Reports Decline in Sales
Volvo AB, a Swedish company engaged in the manufacturing and sale of trucks, buses, and construction equipment, has reported a decline in sales. The company’s global sales in June decreased by 12% compared to the previous period.
Key Sales Figures
- Global sales in June: down 12% compared to the previous period
- Electric vehicle demand: down 26% year-over-year
The decline in sales has led to a decrease in car sales at Volvo. However, the company has announced a partnership with Polestar to expand its manufacturing into Europe.
Partnership with Polestar
Volvo AB has partnered with Polestar to expand its manufacturing capabilities in Europe. The partnership involves the production of the Polestar 7 in Slovakia, with plans to boost the company’s production capacity and competitiveness in the market.
Production Plans
- Production of the Polestar 7 in Slovakia
- Expected to boost production capacity and competitiveness in the market