OSLO, Aug 3 (Reuters) – Sweden’s Volvo Cars (VOLCARb.ST) on Thursday reported a 21% rise in car sales in July from a year earlier, selling 54,165 vehicles, the company’s 11th consecutive month of year-over-year growth.
In the first seven months of 2023, Volvo sold 395,856 cars globally, a rise of 18% compared with the same period of 2022, led by soaring demand for fully-electric or plug-in-hybrid models.
The manufacturer, which is majority-owned by China’s Geely (0175.HK), said it sold 64,764 fully-electric cars year-to-date, up from 23,803 in the year-ago period.
Shares in the company were up 0.4% at 0714 GMT, outperforming a 0.5% drop in Stockholm’s benchmark index (.OMXS30).
Reporting by Terje Solsvik, editing by Gwladys Fouche
