Volvo Cars Sees 7.4% Year-on-Year Sales Decline in Summer 2024 Period
Volvo Cars Summer 2024 Sales Performance Overview
Sept 2 (Reuters) - Sweden-based Volvo Cars sold 148,239 cars in the three-month period between June and August, down 7.4% compared to the same period last year, the company said on Wednesday.
Regional Market Performance
United States Market
• In the United States, lower demand for electric and plug-in hybrid cars led to a weaker sales development, the company said in a statement.
China Market
• Sales for the period were significantly impacted by a continuing market downturn in China.
Electrified Model Sales Analysis
Overall Electrified Sales
• Volvo Cars, which is majority-owned by China's Geely Holding, said sales volumes of electrified models, including fully electric and plug-in hybrids, grew by 13% and accounted for 53.5% of all cars sold during the period.
Fully Electric vs Plug-in Hybrid Sales
• Fully electric car sales volumes rose 27%, while plug-in hybrid sales fell 1% year-on-year.
(Reporting by Elviira Luoma, editing by Terje Solsvik)
