The article below is sourced from Reuters Wire Service. The views and opinions expressed in this story are those of the Reuters Wire Service and do not necessarily reflect the official policy or position of NADA.
Volvo Cars' sales rose 3% year-on-year in October to 61,686 cars driven primarily by an increase in sales of fully electric and plug-in hybrid models in Europe, the Sweden-based automaker said on Monday.
Volvo Cars, which is majority-owned by China's Geely Holding, said in a statement that sales in Europe, its biggest market, were up 21% to 30,167 cars compared to the same period last year.
Meanwhile sales in the U.S. declined 17% and sales in China decreased 10%.
Sales of fully electric and plug-in hybrid models were up 40% globally to account for 48% of cars sold in the month. In Europe alone, sales of electrified models increased 46% compared to last year.
Shares in Volvo Cars rose 1.3% in early trade, outperforming Stockholm's benchmark index which was up 0.6%.
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