Stockholm, August 2 (FFN) – Swedish automaker Volvo Cars reported a sales increase of more than 6% last month, driven by demand for its electric vehicles in Europe. The company’s data, released on Friday, was reported by Reuters and MarketWatch.
The company, majority-owned by Chinese company Geely, sold 57,447 cars in July. This represents a year-over-year increase of 6.1%.
Sales were significantly supported by the European market, which is key for the Swedish automaker. Sales in this market increased by 40% to 28,390, while sales in the US and China declined by 11% and 31%, respectively. “We are pleased to report further sales growth, driven primarily by sales in Europe, despite less than optimal overall market conditions,” said Björn Annwall, the company’s chief commercial officer.
Sales of fully electric vehicles and plug-in hybrids increased by 49%, with their share of total sales reaching 49%. 1 Once again, the European market drove sales volume. Fully electric vehicles alone accounted for 25% of Volvo’s total car sales in July.
