Volvo Cars June Sales Jump 33% As EV Sales Quadruple
Portfolio Pulse from Shivani Kumaresan
Volvo Cars reported a 33% YoY increase in sales for June 2023, with sales of electric vehicles quadrupling. The company, owned by Zhejiang Geely Holding and previously part of Volvo AB and Ford Motor Company, saw a 129% increase in its Recharge line-up of chargeable models. Sales in the U.S. and Europe surged 53% and 70% respectively, while sales in China decreased by 6%. The top selling model was Volvo XC60.
July 05, 2023 | 1:00 pm
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NEUTRAL IMPACT
Ford Motor Company, a previous owner of Volvo Cars, may see indirect effects from Volvo's sales increase.
As a former owner of Volvo Cars, Ford may see indirect effects from Volvo's sales increase, although the impact is likely to be minimal as Ford no longer owns Volvo.
CONFIDENCE 70
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Volvo AB, a former parent company of Volvo Cars, may see indirect effects from Volvo Cars' sales increase.
As a former parent company of Volvo Cars, Volvo AB may see indirect effects from Volvo Cars' sales increase, although the impact is likely to be minimal as Volvo AB no longer owns Volvo Cars.
CONFIDENCE 70
IMPORTANCE 20
RELEVANCE 20