Saab Car Sales Halved

More economic indicators of slower growth in Sweden and sales of new cars fell in June , with Volvo and Saab showing declines.

New car registrations fell 6.8% year-on-year, with a 15 per cent decrease for Volvo and a 50% slide in car sales for Saab.

The numbers come in the wake of an agressive 50 basis point cut in interest rates by Sweden’s Riksbank in a bid to spur economic growth here.