Volvo Car’s sales up 8% in March

COPENHAGEN (Reuters) – Sweden-based Volvo Car AB said on Wednesday its sales increased by 8% year-on-year in March to 63,132 cars, helped mainly by the company’s fully electric cars.

Volvo Car, majority-owned by China’s Geely Holding, said in a statement its fully electric models made up 41% of all its cars sold globally in the first three months of this year.

In Europe, Volvo Car’s fully electric models made up 62% of overall sales in the first three months of 2023.

In February, the group’s total car sales were up 22%, helped by a 187% month-on-month jump for its recharge models, with fully electric cars accounting for 19% of total sales.

(This story has been refiled to say Volvo Car instead of Volvo Cars in paragraph 2)

(Reporting by Louise Breusch Rasmussen, editing by Essi Lehto)