Volvo Cars’ sales up 2% in January

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Volvo Cars, which is majority-owned by China’s Geely Holding, said the increase at group level was led by markets such as Britain, Italy and Belgium while in China sales fell 20% due to the timing of the Chinese New Year.

It said fully electric vehicles accounted for 16% of total sales. Recharge models, also including those not fully electric, accounted for 41%.

In December, the car sales growth stood at 13%. In 2022, sales were down 12% for the full year.