Volvo's sales fall in Asia

Volvo's sales fall in Asia

STOCKHOLM (Reuters): Swedish vehicle maker Volvo Cars said on Monday its 1997 sales in Southeast Asia probably fell to between 15,000 and 16,000 vehicles from 18,000 to 20,000 in 1996.

"We expect between 15,000 and 16,000 cars to have been sold in Southeast Asia last year," spokesman Ulf Thorne told Reuters.

"We've seen a rather sharp fall on this market but the picture is mixed. Taiwan and Thailand look bad but Australia looks strong."

He said the sales decline in Asia was accentuated in the autumn by the financial crisis there.

In Taiwan, sales from January to the end of November fell 35 percent from a year earlier and in Thailand Volvo sold 32 percent less cars than the same period in 1996.