Top Stories
Volvo Cars sales up 31% in May
Global Banking & Finance Review®
Company
HELSINKI (Reuters) – Sweden-based Volvo Cars on Monday posted a 31% rise in monthly sales figures year-on-year, saying it had sold 60,398 cars in May.
HELSINKI (Reuters) – Sweden-based Volvo Cars on Monday posted a 31% rise in monthly sales figures year-on-year, saying it had sold 60,398 cars in May.
The car manufacturer, majority-owned by China’s Geely, saw May sales of fully electric cars double to 10,826.
In the company’s biggest market Europe, sales rose 40% while sales were up 49% in China and 14% in the United States, the Volvo Cars said in a statement.
(Reporting by Essi Lehto, editing by Terje Solsvik)
Sales growth refers to the increase in sales revenue over a specific period, often expressed as a percentage. It indicates how well a company is performing in terms of generating revenue from its products or services.
Fully electric cars are vehicles powered entirely by electricity, using electric motors instead of internal combustion engines. They rely on rechargeable batteries and produce no tailpipe emissions.
Market share is the portion of a market controlled by a particular company or product. It is calculated by dividing the company's sales by the total sales of the industry during a specific period.
Year-on-year sales comparison measures a company's sales performance by comparing figures from one year to the same period in the previous year. It helps assess growth trends and seasonal effects.
The automotive industry encompasses all companies and activities involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It includes automakers, suppliers, and dealerships.
Explore more articles in the Top Stories category
