OSLO (Reuters) – Volvo ( OTC: ) car sales fell 3% year-on-year in December to 73,804 cars due to a drop in sales of hybrid vehicles, the Swedish carmaker said on Tuesday.
Volvo Cars, which is majority-owned by China’s Geely Holding, said in a statement that sales for 2024 rose 8% compared with 2023 to a total of 763,389 cars, driven by a 54% increase in the number of all-electric models.
Sales of Volvo fully electric cars accounted for 23% of all Volvo cars sold globally in 2024, compared to 16% in 2023, the company said.
