Volvo demand steady despite COVID-19 spike in Europe, CEO says

STOCKHOLM -- Volvo Cars expects to hit its forecast of roughly flat sales year-on-year in the second half of 2020 even as a recent a surge in coronavirus cases across Europe makes the outlook more uncertain, CEO Hakan Samuelsson told Reuters.

The Swedish automaker notched a sixth straight annual global sales record in 2019, with a volume of more than 700,000 vehicles, but Samuelsson has told Automotive News Europe he doesn't expect to reach another all-time high in 2020. That is because its sales were down sharply during the first half.