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Volvo Cars sales up 21% year-on-year in July

Volvo Cars sales up 21% year-on-year in July
© Reuters. FILE PHOTO: An employee at a Volvo car dealer, wearing a protective mask is seen in the showroom, amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium May 28, 2020. REUTERS/Yves Herman/File Photo

OSLO (Reuters) -Sweden’s Volvo Cars on Thursday reported a 21% rise in car sales in July from a year earlier, selling 54,165 vehicles, the company’s 11th consecutive month of year-over-year growth.

In the first seven months of 2023, Volvo (ST:) sold 395,856 cars globally, a rise of 18% compared with the same period of 2022, led by soaring demand for fully-electric or plug-in-hybrid models.

The manufacturer, which is majority-owned by China’s Geely (OTC:), said it sold 64,764 fully-electric cars year-to-date, up from 23,803 in the year-ago period.

Shares in the company were up 0.4% at 0714 GMT, outperforming a 0.5% drop in Stockholm’s benchmark index.



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