OSLO, Jan 7 Reuters Volvo Cars39; sales fell by 3 yearonyear in December to 73,804 cars as the sale of hybrid vehicles declined, the Swedenbased automaker said on Tuesday.

The number of electrified cars, including fully electric and plugin hybrid vehicles, rose by 20 year on year in December, while socalled mild hybrids with only internal combustion engines fell by 16, the company said in a statement.

Volvo Cars, which is majorityowned by China39;s Geely Holding, said in a statement that sales for 2024 rose by 8 compared to 2023 to a total of 763,389 cars, boosted by a 54 rise in the number of fully electric models.

Sales of Volvo39;s fully electric cars accounted for 23 of all Volvo cars sold globally during 2024, compared to 16 in 2023, the company said.

Shares in the company rose 1.8 by 0819 GMT, exceeding a 0.9 rise in Stockholm39;s benchmark index.

Reporting by Terje Solsvik, editing by Stine Jacobsen

Source Reuters