Volvo Cars, sister company of Geely Automobile (HKG:0175), reported a 10.7% year on year decline in third-quarter global sales to 141,609 cars.

Sales in Europe and the rest of the world rose 2% to 90,548 cars, while Americas sales fell 14% to 30,777 cars. Greater China sales dropped 40.6% to 20,284 cars. The company attributed the decline to weaker market conditions and increased competition and pricing pressure from local automakers.