Volvo Cars' sales fell by 5% year-on-year in January to 50,820 cars, the Sweden-based automaker said on Tuesday, adding that the decrease was largely due to the timing of the Chinese New Year.

Cars, the automaker based in Sweden, reported a 5% year-on-year decline in sales for January, selling a total of 50,820 cars. The company attributed the decrease largely to the timing of the Chinese New Year.

Volvo reported global sales of 50,820 cars in January, signifying a 5 per cent decline in sales compared to the same period last year.