Volvo Cars February sales volume down 2% year-on-year

COPENHAGEN (Reuters) -Volvo Cars’ sales fell 2% in February from a year earlier to 50,315 cars, the Sweden-based group said on Tuesday, pointing to the timing of the Lunar New Year in China as an explanation for the decline.

Volvo Cars, majority-owned by China’s Geely Holding, said in a statement sales of fully electric cars were up 14% in total, and accounted for 22% of all sales globally in the month.

(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)