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Volvo Cars posts modest US sales gains

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Volvo Cars posts modest US sales gains
00:55 CEST+02:00
Volvo Cars' American sales revved up a notch in July, but were still being overtaken by rivals such as Toyota and Honda as the US auto market continued its recovery.

The Sweden-based company increased sales of its cars by 3.4 percent from June to July, making last month the most profitable for four years, Volvo Cars said in a statement.

Yet the 5,909 cars bought by Americans in July represented a 4.6-percent decrease compared to the same period last year.

While Volvo posted a single-digit increase, the Wall Street Journal reported that GM, Toyota, Ford, Honda and Chrysler had all increased vehicle sales in the US in the same period - and all hit two-figure hikes.

For example, GM deliveries rose 16 percent, Honda 21 percent and Toyota 17 percent, according to a Bloomberg tally.

In June, the Volvo Cars CEO Håkan Samuelsson was forced to deny rumours that the company was pulling of the US, which at the time provided the company 16 percent of its sales.

Volvo Car Group's market share in the United States fell to 0.46 percent in 2012, compared with 0.53 percent in 2011 and 0.47 percent in 2010, prompting the American auto press to speculate earlier this year that the brand would withdraw from the country.

TT/The Local/at

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