Volvo Cars’ sales grow 10% in April on demand jump in China

STOCKHOLM: Sweden-based Volvo Cars said on Wednesday that sales increased by 10% year-on-year in April to 51,976 cars, boosted by strong gains in China.

Volvo Cars, which is majority-owned by China’s Geely Holding , said in a statement that sales in China were up 46%.

In Europe, its biggest market Europe, sales were up 5%, while in the US they were down 4%.

Volvo Cars reports 28% drop in May sales as China lockdowns weigh

The carmaker’s shares were down 1% in early trade.

Volvo Cars said sales of fully electric cars nearly doubled to account for 17% of total sales.

All recharge models, also including those not fully electric, were up 28%.