Sweden's Volvo Cars on Thursday climbed to its highest level since November, after the automaker reported record single-month sales for March and solid electric vehicle growth in Europe.
Year-on-year sales of electric vehicles in Europe were 22% higher in the quarter and up 34% year-on-year in March, roughly in line with overall sales growth in that market.
Sales of electric models to China, the largest EV market, dropped by 36% despite a 4% hike in overall sales.
Overall sales growth was 17%.
"These numbers reflect the strength of our strategy and product diversity - offering fully electric cars alongside plug-in hybrids and mild hybrids in the right mix," Volvo Cars' Deputy CEO Björn Annwall said in a statement.
Persons:
Björn Annwall
Organizations:
Volvo, Volvo Cars, EV
Locations:
Europe, London, China