Volvo posts May sales decline

Volvo has announced another month of meager sales. The Geely-owned automaker struggled in most major markets in May, but managed to continue its strong sales momentum in China.

Volvo announced on Monday that it sold 35,660 vehicles worldwide in May, representing a 5.5 percent decrease compared to the same month a year earlier.

In the United States, Volvo's single largest market, the automaker's sales increased a modest 1.3 percent to 6,318 deliveries. Volvo's May results were much stronger in China, where sales increased 24.4 percent to 4,415 vehicles. Thanks to that uptick in sales, China is closing in on Sweden – which recorded a 1.8 percent improvement to 4,664 units last month – as Volvo's second largest market.

However, results weren't as rosy in Europe where Volvo's sales fell 10.2 percent to 18,053 units. In other global markets, Volvo's sales decreased by 12.3 percent to 6,874 deliveries.

Volvo's best-selling model in May was the XC60 crossover, followed by the V40 wagon. The automaker's flagship S80 sedan was third in the pecking order.

For the year Volvo's global sales are down 6.2 percent to 168,179 units.