COPENHAGEN — Volvo Vehicles’ gross sales rose 6% year-on-year in July to 57,447 vehicles, pushed by a rise in absolutely electrical autos in Europe, the Sweden-based automaker stated on Friday.
Volvo Vehicles, which is majority-owned by China’s Geely Holding, stated in an announcement that complete gross sales in Europe, the largest marketplace for Volvo Vehicles, have been up 40%, whereas gross sales in america and China fell by 11% and 31%, respectively.
“We’re happy to report one other month of gross sales progress, which is pushed largely by the gross sales in Europe regardless of a usually difficult market atmosphere,” deputy CEO and Chief Business Officer Bjorn Annwall stated within the assertion.
Gross sales of absolutely electrical and plug-in hybrid fashions have been up 49% in comparison with the identical interval of 2023, particularly pushed by Europe, and likewise accounted for 49% of all vehicles bought throughout July.
Shares within the firm fell 0.7% by 0724 GMT, outperforming Stockholm’s benchmark inventory market index which traded down 2%.
Volvo Vehicles goals to have electrical autos account for half of its gross sales by quantity by mid-decade and hopes to promote solely EVs by 2030.
