Keystone-SDA
The Swedish automobile group Volvo Cars, owned by the Chinese Geely, recorded an increase of 8% in its sales in 2024, driven by its electric vehicles, it announced Tuesday in a press release.
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January 7, 2025 – 12:14
(Keystone-ATS) This result is in line with sales forecasts significantly revised downwards in September when the manufacturer announced forecasting growth of between 7 and 8%.
Over the entire financial year, Volvo Cars sold 763,389 vehicles, a record, despite a slight decline in December (73,804 vehicles, down 3% compared to December 2023).
Setback in China
Sales of electric cars jumped 54% to 175,194 units, representing 23% of total sales. Including hybrid vehicles, the share of electric models reaches 46% of total sales.
Volvo Cars in particular recorded a 25% increase in its sales in Europe to 369,685 vehicles. In China, sales decreased by 8% compared to 2023.
Volvo Cars, which specializes in electric vehicles, in September abandoned its goal of selling only electric vehicles in 2030, now setting its target between 90% and 100% by this deadline.
Volvo Cars shares gained 1.45% to 24.86 Swedish crowns at 09:50 GMT on the Stockholm Stock Exchange.
Swiss
