Business
Volvo Cars October sales rise 3% year-on-year
Global Banking & Finance Review®
Company
COPENHAGEN (Reuters) -Volvo Cars’ sales rose 3% year-on-year in October to 61,686 cars driven primarily by an increase in sales of electric and plug-in hybrid models in Europe, the Sweden-based automaker said on Monday.
COPENHAGEN (Reuters) -Volvo Cars’ sales rose 3% year-on-year in October to 61,686 cars driven primarily by an increase in sales of electric and plug-in hybrid models in Europe, the Sweden-based automaker said on Monday.
Volvo Cars, which is majority-owned by China’s Geely Holding, said in a statement sales in Europe, its biggest market, were up 21% to 30,167 cars compared to the same period last year while sales in the U.S. and China declined.
(Reporting by Louise Rasmussen, editing by Stine Jacobsen)
An electric vehicle (EV) is a type of automobile that is powered by electricity instead of traditional fossil fuels. EVs use electric motors and batteries to operate, offering a more sustainable alternative to conventional vehicles.
A plug-in hybrid vehicle (PHEV) combines a conventional internal combustion engine with an electric propulsion system. PHEVs can be charged from an external power source and can operate on electric power or gasoline.
Explore more articles in the Business category
