Volvo Cars announced a 2% decline in sales for February compared to the same period last year, with total sales reaching 50,315 cars. The Sweden-based group attributed this decrease to the timing of the Lunar New Year in China.
The company, majority-owned by China’s Geely Holding, noted that sales of fully electric cars saw a 14% increase and accounted for 22% of all global sales in February.
In China, sales were down by 39% year-on-year, primarily due to the Lunar New Year falling mainly in February this year. Meanwhile, European sales experienced a 26% growth, with fully electric car sales rising by 31% compared to last year. In the United States, overall sales fell by 7%, with a significant 63% drop in sales of fully electric cars.
In December 2023, Volvo Cars expanded its fully electric lineup with the introduction of the EX30. As of February 2024, the company has sold 5,863 cars, with deliveries already underway in Europe, Japan, and Brazil, and more markets set to follow in the coming weeks.
