The Swedish car maker Volvo had a rough year and the officials warned that the 2013 will be another challenging year for the company. 

"Competition in the car industry will most likely continue to be as fierce as in 2012 as manufacturers will seek to capture volumes and market shares in a market where the economic situation will remain unstable. 2013 is therefore expected to be a challenging year in terms of margins and growth", the automaker said in an official statement. 

Last year Volvo managed to sale only 421.951 vehicles worldwide, marking a 6.1 percent decrease from 2011. The Swedish car maker put this poor performance on the economic situation in mature markets. 

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In the US, Volvo managed to sale 68.079 cars, 1.2 percent more than in 2011. Volvo was able to retain its position as the vest selling car brand in Sweden in 2012, but the sales fell 11.3 percent. China was another difficult market for Volvo. Here, the sales decreased 10.9 percent to 41.989 units in 2012.

Source: LeftLane