Volvo sold a record number of cars in 2023
- January 5, 2024
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Swedish automaker Volvo Cars said on Friday that it sold a record number of cars last year, exceeding 2022 figures by 15%. This was reported by Reuters, as
Swedish automaker Volvo Cars said on Friday that it sold a record number of cars last year, exceeding 2022 figures by 15%.
This was reported by Reuters, as reported by Ukrinform.
The number of cars sold by the company increased by 15%, reaching 708,716 units. Volvo said demand for all-electric models is particularly strong, rising by 70 percent since 2022. According to the company, fully electric and hybrid cars made up 55% of all cars sold in Europe in December.
They explained that the demand for electric vehicles and the stabilization of the supply chain contributed to the increase in sales statistics, but by the end of 2023, growth rates slowed down and the company’s share price fell in early trading. In particular, Volvo Cars’ sales growth rate in December 2023 was equal to 4.6% compared to the same period in the previous year: 4% in Europe, 6% in China and 23% in the USA.
However, Volvo’s share price fell 1.4% to 30.49 Swedish krona ($2.96) on Friday, January 5; This was a record low for the automaker, which went public in late 2021.
As reported, according to the results of the fourth quarter of 2023, Tesla delivered 484,507 electric cars; This figure is above analysts’ expectations of 477,000 units.
Source: Ukrinform
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