STOCKHOLM, Feb 3 (Reuters) – Sweden-based Volvo Car AB (VOLCARb.ST) said on Friday its sales increased by 2% year-on-year in January to 48,520 cars as sales tumbled in China due to public holidays.
Volvo Cars, which is majority-owned by China’s Geely Holding (0175.HK), said the increase at group level was led by markets such as Britain, Italy and Belgium while in China sales fell 20% due to the timing of the Chinese New Year.
It said fully electric vehicles accounted for 16% of total sales. Recharge models, also including those not fully electric, accounted for 41%.
In December, the car sales growth stood at 13%. In 2022, sales were down 12% for the full year.
Reporting by Anna Ringstrom, editing by Terje Solsvik
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