Volvo's July sales up 6% YoY, driven by 40% European EV demand, despite US and China declines.
Volvo Cars' July sales increase 6% YoY to 57,447 cars, primarily due to rising demand for electric vehicles in Europe, where total sales rose by 40%. Despite declines in US and China sales (11% and 31%), electric and plug-in hybrid sales saw a 49% increase, accounting for 49% of total July sales. Volvo aims to have half of its sales by volume from EVs by mid-decade, eventually selling only EVs by 2030.
August 02, 2024
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