Volvo Car Group Reports Q2 Sales Dip Amidst Strong Electric Vehicle Growth

Deep News
07/02

Volvo Car Group announced on Thursday that it sold a total of 171,501 vehicles globally in the three months ending June, representing a 5.6% decline compared to the same period last year.

The automaker stated that sales of its electrified models, which include fully electric and plug-in hybrid vehicles, increased by 10% year-over-year.

In a statement, Volvo Car's Chief Commercial Officer, Erik Severinson, said, "The overall market environment remains challenging, particularly in China, but we are encouraged by the momentum for fully electric cars in Europe, our largest market."

The company reported that sales of its fully electric vehicles specifically grew by 14% in the second quarter.

Sales of electrified models in Europe rose by 8% year-over-year to 64,989 units. In the Chinese market, sales of electrified vehicles surged by 144% to 9,909 units.

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