Volvo Cars sold 50,662 cars in February, up 1% from a year earlier, the Sweden-based company said on Tuesday, as sales of its electric vehicles declined for the month.
Volvo Cars, which is majority-owned by China’s Geely Holding, said in a statement sales of fully electric cars were down 15% to account for 18% of total sales, reports Reuters.
Sales of electrified cars as a whole, also including plug-in hybrids, were down 3% and accounted for 43% of total sales.
Shares in the company, which has warned of a turbulent and competitive 2025, were down 1.7% at 0805 GMT, slightly underperforming the wider market in Stockholm which traded own 1.4%.
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