Volvo Cars Sees 4% Sales Decline from May to July as Electric Models Surge
Volvo Cars Sales Performance Overview
Overall Sales Figures
STOCKHOLM, Aug 4 (Reuters) - Swedish-based Volvo Cars sold 164,663 cars in the three months through July, down 4% from the same period a year earlier, the company said on Tuesday.
Regional Sales Breakdown
United States Market
• Sales in the United States recovered for a third consecutive month with a double digit increase, the company said in a statement.
China Market
• However, sales for the period were significantly impacted by the market downturn in China, it added.
Europe Market
• Deliveries in Europe, its largest region by sales, remained steady with moderate growth.
• "We are maintaining pricing discipline in Europe and have seen a sustained increase in retail orders for our fully electric cars," Volvo Cars said.
Electrified Models Surge
Growth in Electrified and Electric Models
• Volvo Cars, which is majority-owned by China's Geely Holding, said sales volumes of electrified models, including fully electric and plug-in hybrids, increased 15% to account for 53% of cars sold.
Fully Electric Car Sales
• Fully electric car sales volumes rose 21% to account for 27% of total sales, while plug-in hybrid sales rose 9%.
(Reporting by Jagoda Darlak, editing by Louise Rasmussen)
