Swedish automaker, Volvo Car AB, announced a 2% rise in its January sales, reaching a total of 48,520 vehicles. The increase in sales can be attributed to the Chinese New Year holiday, during which many shops are closed.
The majority-owned subsidiary of China’s Geely Holding reported a surge in sales from the British, Italian, and Belgian markets. The company also revealed that fully electric vehicle sales accounted for 16% of total vehicle sales, while rechargeable electric vehicle sales accounted for 41%.
Despite the positive results in January, Volvo’s overall car sales for 2022 showed a decline of 12% compared to the previous year. The automaker recorded a 13% rise in car sales in December 2022.
In conclusion, Volvo’s January sales figures demonstrate a promising start to the year, and the company is optimistic about future growth driven by increasing demand for electric vehicles