COPENHAGEN, Nov 4 Reuters Volvo Cars39; sales rose 3 yearonyear in October to 61,686 cars driven primarily by an increase in sales of fully electric and plugin hybrid models in Europe, the Swedenbased automaker said on Monday.
Volvo Cars, which is majorityowned by China39;s Geely Holding, said in a statement that sales in Europe, its biggest market, were up 21 to 30,167 cars compared to the same period last year.
Meanwhile sales in the U.S. declined 17 and sales in China decreased 10.
Sales of fully electric and plugin hybrid models were up 40 globally to account for 48 of cars sold in the month. In Europe alone, sales of electrified models increased 46 compared to last year.
Shares in Volvo Cars rose 1.3 in early trade, outperforming Stockholm39;s benchmark index which was up 0.6.
Reporting by Louise Rasmussen, editing by Stine Jacobsen
Source Reuters