General Discussion, page-6268

Volvo Cars June sales up 33% as fully electric car sales quadruple

COPENHAGEN (Reuters) -Sweden-based Volvo Cars (ST:VOLVb) on Wednesday reported a 33% year-on-year rise in June sales to 66,379 cars, helped by a spike for fully electric cars.

The manufacturer, which is majority-owned by China's Geely (OTC:GELYY), said it sold 9,535 fully electric cars in the month, up 346%.

"The overall sales increase was driven by the company's fully electric cars which quadrupled compared to the same period last year," it said in a statement.

"Furthermore, figures from June 2022 were negatively affected by lower production due to last year's supply chain constraints."

Volvo Cars said its total car sales in biggest market Europe rose 70%. Total car sales in the U.S. were up 53% while in China they decreased.

Shares in the company were up 1.7% at 0737 GMT.

https://www.investing.com/news/stock-market-news/volvo-cars-june-sales-up-33-as-fully-electric-car-sales-quadruple-3119556