Business
Volvo Cars reports 5% rise in November sales
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COPENHAGEN (Reuters) -Volvo Cars’ sales rose 5% year on year in November to 66,977 vehicles, led by Europe and the United States, it said on Wednesday.
COPENHAGEN (Reuters) -Volvo Cars’ sales rose 5% year on year in November to 66,977 vehicles, led by Europe and the United States, it said on Wednesday.
Sweden-based Volvo Cars, majority owned by China’s Geely Holding, said that sales in Europe, its biggest market, rose 20% to 31,611 cars while U.S. sales were up 5%. Sales in China declined by 8% year on year.
Fully electric and plug-in hybrid models registered a 40% jump in global sales and accounted for 48% of total November sales.
Shares in the company were up 1.6% at 0711 GMT, outperforming a 0.6% gain for Stockholm’s benchmark index.
(Reporting by Louise Breusch RasmussenEditing by Terje Solsvik and David Goodman)
An electric vehicle (EV) is a type of automobile that is powered by electricity instead of gasoline or diesel. EVs use electric motors and batteries to operate, offering a cleaner alternative to traditional vehicles.
Market performance refers to how well a company or industry is doing in terms of sales, revenue, and stock price. It is often assessed through financial metrics and comparisons with competitors.
Year-on-year sales growth compares a company's sales in one period to the same period in the previous year. It is used to measure performance and growth over time.
Plug-in hybrid models are vehicles that combine a traditional internal combustion engine with an electric motor. They can be charged from an external power source and offer improved fuel efficiency and lower emissions.
Market trends indicate the general direction in which a market is moving. Understanding these trends helps businesses make informed decisions about production, marketing, and sales strategies.
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