Sweden-based Volvo Cars said on Wednesday, May 3, that sales increased by 10% in April to 51,976 cars. The rise in sales are mainly boosted by strong gains in China.
Volvo Cars said in a statement that sales in China were up 46%. In Europe, its biggest market, sales were up 5%, while in the U.S. they were down 4%.
The carmaker’s shares were down 1% in early trade.
Volvo Cars states that sales of fully electric cars nearly doubled to account for 17% of total sales. All recharge models, also including those not fully electric, were up 28%.
Volvo Cars is a Swedish multinational manufacturer of vehicles, which is majority-owned by Chinese Geely Holding.
Source: finance.yahoo.com
Very informative! The increase in sales is being driven mostly by substantial gains in China. According to Volvo Cars, sales in China are up 46%. Thank you for sharing this info.