Geely Holding's Volvo Cars revealed on Wednesday that its vehicle sales saw an annual growth of 13% in May, while the sales of electrified models, fully electric, and plug-in hybrid models climbed by 37%. The carmaker sold 68,034 units in the reported month, with fully electric vehicles accounting for 25% of total sales.
Sales in Europe jumped by 27% compared to the same month in 2023, and electric vehicle sales in the region surged by 34% year-over-year. Meanwhile, Volvo Cars' sales in the United States declined by 5% to 10,153, with recharge model sales skyrocketing by 113% in May.
"This month's sales figures are another measure of our progress towards our sales target of at least 15 per cent growth for 2024," Deputy CEO Bjorn Annwall noted.
