2023-04-05 05:48:20 ET
- Volvo Car AB ( OTCPK:VOLAF ), which is majority-owned by Chinese automaker Geely Holding ( OTCPK:GELYF ) reported sales growth of 8% Y/Y to 63,132 in March.
- For Q1, the automaker recorded 10% growth Y/Y to 162,938 cars.
- European sales grew 12% Y/Y to 72,671 cars for the quarter; Sales in the US grew by 16% Y/Y to 26,483 cars; China sales up 2% Y/Y to 36,457 cars.
- The company's fully electric models made up 41% of all the cars sold globally during the quarter.
- In March, the Volvo XC40 was the top selling model with sales of 20,556 cars (2022: 17,584), followed by the XC60, with total sales at 18,090 cars (2022: 16,855 units), and the XC90 at 9,828 cars (2022: 9,141 units).
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Volvo reports sales growth of 10% in Q1