Volvo Cars total sales rise 1% in February, EV sales fall
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FILE PHOTO: Volvo reveals their new Volvo EX30 fully-electric small SUV vehicle during an event in Milan, Italy June 7, 2023. REUTERS/Claudia Greco/File Photo
COPENHAGEN (Reuters) -Volvo Cars sold 50,662 cars in February, up 1% from a year earlier, the Sweden-based company said on Tuesday, as sales of its electric vehicles declined for the month.
Volvo Cars, which is majority-owned by China's Geely Holding, said in a statement sales of fully electric cars were down 15% to account for 18% of total sales.
Sales of electrified cars as a whole, also including plug-in hybrids, were down 3% and accounted for 43% of total sales.
Shares in the company, which has warned of a turbulent and competitive 2025, were down 1.7% at 0805 GMT, slightly underperforming the wider market in Stockholm which traded own 1.4%.
(Reporting by Stine Jacobsen, editing by Louise Rasmussen)
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