STOCKHOLM, March 4 (Reuters) – Sweden-based Volvo Cars said on Wednesday it sold 156,965 cars in the three months through February, down 10% from the same period a year earlier, but sales of fully electric cars increased 18%.
“Our sales for the period were impacted by the continued tough market conditions, impacted by tariffs and unfavourable regulatory developments especially in the U.S.. The prolonged new year holiday period in China further affected our performance,” it said in a statement.
“However, we are pleased to see steady growth in the sales of our fully electric cars.”
Shares in the company, which is due to publish its first-quarter earnings report on April 29, were up 1% in early trade.
(Reporting by Anna Ringstrom, editing by Louise Rasmussen)
