Volvo Cars posts record March sales

VOLVO Cars’ sales rose 25 per cent 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 (Apr 4).

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

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

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

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