Volvo's 2008 Sales, Lowest Since 1996

There's no secret that Volvo currently experiences one of the toughest periods in its history, similar to the majority of carmakers in the world who are seeing their sales going extremely low.

After announcing an additional 4,000 job cut prepared for December 31, Volvo comes out with a bunch of new disappointing figures that do nothing more than to confirm the continuously deepening crisis it experiences. According to figures provided by Autonews, Volvo's 2008 sales will be the lowest in 12 years, obviously due to the global recession and all the other related matters.

Volvo's parent company Ford expects to deliver approximately 380,000 units by the end of the year, compared to 458,323 vehicles sold in 2007. But more importantly, it represents the lowest point in 12 years, with 1996 bringing “only” 363,222 sold cars.

As you probably know, Ford is now considering its options concerning Volvo and, even if new rumors claim that the American carmaker may be interested in selling the Swedish company to its Chinese partner Changan, there's no official information concerning a potential transaction.

Earlier this day, Volvo announced a new cost-cutting measure, saying it plans to let go approximately 4,000 workers by the end of the year, especially due to its intentions to concentrate on certain processes that could revamp its sales.

And because we were talking about sales, this is one of the most apocalyptic subjects for Volvo which saw its truck sales down by 99.7 percent in the third quarter of this year. This means the Swedish carmaker delivered no more than 115 trucks, compared to 41,900 units sold in the same period of the previous year! Obviously, Volvo did nothing more than to point to the global recession, admitting that it urgently needs support to get out of the crisis.

“The downturn in the economy has been significantly exacerbated by the global financial crisis. The important European market has declined significantly while North America and Japan continue to show weak demand,” Volvo officials were quoted as saying by This is Money in October.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram
About the author: Bogdan Popa
Bogdan Popa profile photo

Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories