STOCKHOLM : Sweden-based Volvo Cars said on Wednesday that sales increased by 10 per cent year-on-year in April to 51,976 cars, boosted by strong gains in China.
Volvo Cars, which is majority-owned by China’s Geely Holding, said in a statement that sales in China were up 46 per cent. In Europe, its biggest market, sales were up 5 per cent, while in the U.S. they were down 4 per cent.
The carmaker’s shares were down 1 per cent in early trade.
Volvo Cars said sales of fully electric cars nearly doubled to account for 17 per cent of total sales. All recharge models, also including those not fully electric, were up 28 per cent.
(This story has been refiled to drop repeated word ‘Europe’ in paragraph 2)
Source: CNA
