COPENHAGEN: Volvo Cars’ sales rose 27% in April from a year earlier to 65,838 cars, boosted by demand for electric and hybrid vehicles, the Sweden-based group said on Monday.
Volvo Cars, majority-owned by China’s Geely Holding, said in a statement sale of fully electric cars were up 94% and accounted for 26% of all sales globally in the month.
Sales in Europe, Volvo Cars’ biggest market, jumped 65% compared to the same period last year, reaching 34,238 cars, with the company’s fully electric small SUV, EX30, driving sales, Volvo Cars added.
In the US, total sales rose 10%, primarily driven by an 89% increase in plug-in hybrid car sales, Volvo Cars said.
Meanwhile, sales in China were down 3% compared to the same period last year.
Shares in the company rose 0.5% by 0723 GMT, outperforming a 0.3% rise in Stockholm’s benchmark stock index.