Volvo Cars reports 5% rise in November sales

COPENHAGEN (Reuters) -Volvo Cars’ sales rose 5% year on year in November to 66,977 vehicles, led by Europe and the United States, it said on Wednesday.

Sweden-based Volvo (OTC:) Cars, majority owned by China’s Geely Holding, said that sales in Europe, its biggest market, rose 20% to 31,611 cars while U.S. sales were up 5%. Sales in China declined by 8% year on year.

Fully electric and plug-in hybrid models registered a 40% jump in global sales and accounted for 48% of total November sales.

Shares in the company were up 1.6% at 0711 GMT, outperforming a 0.6% gain for Stockholm’s benchmark index.