Sales of 51,286 vehicles, up 22% year over year, were reported by Sweden-based Volvo Car AB (VOLCARb.ST) on Friday. This news helped the company’s stock rise.
According to a statement from Volvo Cars, which is majority owned by Geely Holding (0175. HK) in China, sales of completely electric vehicles increased by 187% to represent 19% of overall sales.
All recharge models, including those that are not entirely electric, had a 49% increase in sales, making up 40% of the total.
The group’s overall auto sales increased by 2% in January despite Chinese New Year calendar factors holding them back. China had a 50% increase in sales in February.
Sales in Europe’s largest market increased by 9% in February.
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