STORY: Volvo Cars reports 17 pct global sales growth in H1
DATELINE: July 6, 2023
LENGTH: 00:01:39
LOCATION: Stockholm
CATEGORY: ECONOMY

SHOTLIST:
1. various of Volvo studio
2. press release (source: Volvo Cars)
3. various of Volvo cars (source: Volvo Cars)
4. various of Volvo cars production line (source: Volvo Cars)

STORYLINE:

Volvo Cars said on Wednesday that its global sales in the first six months of this year increased by 17 percent year-on-year to 341,691 units.

The increase was driven by fully electric cars, of which 59,260 were sold, an increase of 167 percent, the company said in a press release.

In China, sales grew by 12 percent to 78,526 cars, of which 7,565 were chargeable models, either fully electric or plug-in hybrids.

Volvo sold 59,750 cars in the U.S., up 18 percent year-on-year, while sales of fully electric cars doubled to 7,603.

In Europe, 146,943 cars were sold during the same period, up 23 percent year-on-year.

Much of the growth in Europe can be attributed to fully electric cars, of which sales increased by 203 percent compared with the first six months of 2022 to 39,617, or 27 percent of total sales.

Volvo Cars, acquired by Chinese automaker Geely in 2010, employed approximately 43,200 full-time employees globally in 2022.

Headquartered in the Swedish city of Gothenburg, Volvo Cars has main car production plants in Gothenburg, Ghent (Belgium), South Carolina (the U.S.), and Chengdu, Daqing and Taizhou (China). The company also has research and development (R&D) and design centers in Gothenburg, Camarillo (the U.S.) and Shanghai (China).

The company said in 2021 that it aimed to phase out models with combustion engines, including plug-in hybrids, and solely produce fully electric cars by 2030.

Xinhua News Agency correspondents reporting from Stockholm.
(XHTV)