STOCKHOLM: Sweden’s Volvo Cars registered record sales figures last year powered by increasing demand for its electric vehicles, the firm said Tuesday.
The Chinese-owned automaker said 2024 brought an eight percent jump in sales compared to the previous year, but the figure for fully electric vehicles was 54 percent.
The company said it had sold 763,389 vehicles of which 175,194 were fully electric and 177,593 hybrid.
Volvo had announced in September it expected a jump in sales of between seven and eight percent.
However, the firm added in its statement that sales in December were down compared with the same month in the previous year.
And while Volvo registered a 25 percent jump in sales in Europe, it said the figure had slumped in China by eight percent and in the United States by three percent. The automaker announced in September that it was scrapping its goal set in 2021 of becoming fully electric by 2030, scaling back its target to between 90 and 100 percent.
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