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- Majorly-owned by Chinese automotive company Geely Holding (OTCPK:GELYF), Volvo Car AB (OTCPK:VOLAF) announced on Wednesday that its sales grew 7% Y/Y to 54,317 cars in October.
- The company’s line of Recharge models represented 36.8 %, with fully electric vehicles accounting for 15% of total sales.
- On YTD basis, retail sales reached 483,304 cars, down 16.9% Y/Y.
- Sales in Europe fell 0.4%, in the U.S. up 8.9% and in China +36.7% for the month.
- "Overall underlying demand for the company’s cars remains robust, especially for its recharge range of pure electric and plug-in hybrid cars," it said in a statement.
- Top selling model for the month was the XC60 with sales of 17,531 cars (2021: 15,399 units), followed by the XC40 at 14,883 cars (2021: 13,987) and the XC90 at 7,651 cars (2021: 8,639 units).
Last week, the company reported decline in quarterly operating profit and predicted slightly lower wholesale volumes in 2022 than last year.