Sales Report: Volvo Cars

COPENHAGEN (Reuters) – Volvo Cars' sales rose 5% year on year in November to 66,977 vehicles, driven by strong performance in Europe and the United States.

Sweden-based Volvo (OTC:VLVLY), majority owned by China's Geely Holding, reported that sales in Europe, its largest market, increased by 20% to 31,611 cars, while U.S. sales grew by 5%. However, sales in China saw an 8% year-on-year decline.

Notably, fully electric and plug-in hybrid models experienced a 40% increase in global sales, contributing to 48% of total sales for November.

As a result, shares in the company rose by 1.6% at 0711 GMT, outperforming the 0.6% gain of Stockholm's benchmark index.