Volvo Cars experiences 10% sales growth in April due to increased demand in China
Volvo Cars, headquartered in Sweden, reported a 10% year-on-year increase in sales for April, with a total of 51,976 cars sold. This growth was mainly driven by a surge in demand in China, where sales went up by 46%. Sales in Europe, the company’s largest market, rose by 5%, whereas in the United States they decreased by 4%. Despite these positive results, the carmaker’s shares declined by 1% in early trading.
Volvo Cars also disclosed that sales of fully electric vehicles almost doubled, accounting for 17% of total sales. Additionally, all recharge models, including those that are not fully electric, experienced a 28% increase in sales.