Volvo Car Sales Fall 2% In February

(RTTNews) - Volvo Car AB (publ.) (VLVOF), Tuesday said that the timing of the Lunar New Year of China had caused a decline of 2 percent in its February sales, to 50,315 cars.

Out of the overall sales in February, sales of fully electric models and plug-in hybrid models increased by 14 percent and 2 percent, respectively, driven by the increased demand for Volvo's latest fully electric small SUV.

The company sales in Europe grew 26 percent in February to 26,773 cars, while sales in the U.S. decreased 7 percent in the same period to 7,920 cars.

The company's latest addition to the fully electric family, EX30, reported sales of 5,863 cars in the first two months of 2024.

Currently, Volvo's stock is sliding 2.32 percent, to $3.37 on the Other OTC.