 |
| Volvo Cars |
Swedish automaker Volvo Cars increased its sales by 6% in July 2024, reaching 57,447 car sales in Europe. This growth is due to the rise of fully electric vehicles in Europe, and Volvo seems to be more active in this market.
Europe, Volvo's main market, recorded a 40% increase in total sales of Volvo cars. Meanwhile, sales in the United States and China recorded a steady decline, 11% and 31%, respectively.
Björn Onvall, Deputy CEO and Chief Commercial Officer of Volvo Cars, said, "Despite a generally challenging market environment, it is pleasing for us to record sales growth in Europe."
Compared to the same period in 2023, sales of fully electric and plug-in hybrid models increased by 49%, an increase driven primarily by Europe. These cars accounted for 49% of all cars sold in July.
However, the company's shares were down 0.7% by 0724 GMT, with Stockholm's benchmark stock market index down 2%. Volvo Cars, which expects to sell only EVs by 2030, aims to account for half of electric vehicle sales by the middle of the decade.
0 Comments