Volvo Cars’ June sales rose 33% as all-electric car sales quadruple

COPENHAGEN (Reuters) – Sweden-based Volvo Cars on Wednesday reported a 33% year-on-year increase in June sales to 66,379 cars, helped by an increase in all-electric cars.

The carmaker, majority-owned by China’s Geely, said it sold 9,535 all-electric cars during the month, up 346%.

“The overall sales increase was driven by the company’s all-electric cars which quadrupled compared to the same period last year,” it said in a statement.

“In addition, the June 2022 figures were negatively impacted by lower production due to supply chain constraints from last year.”

Volvo Cars said its total car sales in Europe’s biggest market had increased by 70%. Total car sales in the United States increased by 53%, while in China they fell.

The company’s shares were up 1.7% at 0737 GMT.

(Reporting by Louise Breusch Rasmussen, editing by Anna Ringstrom)

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