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Volvo Cars posts record March sales By Reuters

© Reuters. 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

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COPENHAGEN (Reuters) -Volvo Cars’ sales rose 25% in March from a year earlier to 78,970 cars, reaching an all-time high for global sales in a single month, the Sweden-based group said on Thursday.

Volvo (OTC:) Cars, majority-owned by China’s Geely Holding, said in a statement sales of fully electric cars were up 43% and accounted for 23% of all sales globally in the month.

Shares in the company rose 4% in early trade on Stockholm’s stock exchange.

Total sales in Europe, Volvo Cars’ biggest market, grew 33%, with sales of fully electric cars increasing 66% from a year ago.

In the United States, total sales rose 50%, while sales of fully electric cars declined 66%.

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