OSLO (Reuters) – Volvo (OTC: ) car sales fell 3% year-on-year in December to 73,804 vehicles as sales of hybrid vehicles declined, the Swedish automaker said on Tuesday.
Volvo Cars, majority owner of China's Geely Holding, reported that sales for 2024 increased by 8% compared to 2023 to a total of 763,389 vehicles, boosted by a 54% increase in the number of fully electric models.
Sales of Volvo's fully electric cars will account for 23% of all Volvo cars sold worldwide in 2024, compared to 16% in 2023, the company said.