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Volvo Cars' May sales rise 13%, boosted by electric vehicles

STOCKHOLM — Volvo Cars' sales rose to 68,034 cars in May, up 13% from a year earlier, buoyed by a 27% jump in Europe and a strong performance by its fully electric EX30, the group said on Wednesday. Sales of fully electric and plug-in hybrid models rose 37% to account for 48% of group sales globally, Sweden-based Volvo Cars, which is majority-owned by China's Geely Holding, said in a statement. "This month's sales figures are another measure of our progress towards our sales target of at least 15% growth for 2024," it said. However, sales in the United States and China fell by 5% and 1%, respectively. Shares in the company were up 1.9% by 0755 GMT. Volvo Cars aims to have electric vehicles account for half of its sales by volume by mid-decade and hopes to sell only EVs by 2030.   Featured Gallery Volvo EX30 View 22 Photos Earnings/Financials Green Volvo Electric

Jaguar XF S Sportbrake vs. Volvo V90 R-Design: A sporty wagon comparison

We had both a XF Sportbrake S and a V90 T6 AWD R-Design come through the office recently, and since they're really close competitors – both fairly large wagons, both luxury vehicles, both have sporting pretenses, and both feature all-wheel-drive. And in the case of our test cars, they're equipped very similarly, but at divergent price points. Is the Jaguar worth the premium? Let's take a closer look. The Jaguar is only available in the top-level S trim, which brings many features, as well as all-wheel-drive and a 380-horsepower supercharged 3.0-liter V6. The final price listed for our Jaguar was a heady $84,815, up from a base price of $71,445. That's thanks to a bunch of options: the $360 black trim package, the $565 metallic paint, the $1,020 20-inch wheels, the $3,495 driver assistance package, $3,265 technology package, $1,805 comfort and convenience package, and $2,860 premium interior package. View 22 Photos The Volvo is available in a variety of configurations. In fact, you can have a V90 R-Design for as little as $50,945, but you'll be making do with the front-wheel-drive T5 model that has just a 250-horsepower turbocharged four-cyinder. To match the Jaguar's feature set and to nearly match its performance, you need to go with the T6 with all-wheel-drive. In addition to powering all four wheels, it also adds the 316-horsepower twin-charged four-cylinder. The engine and drivetrain add about $6,000 to the T5's price tag. The rest of our V90's price increase was made up by a lot of options, including a Convenience Package for $1,900 that came with heated washer nozzles, a surround view camera, grocery bag holder, HomeLink, a compass, and automatic parallel parking. Other options included the upholstered instrument panel and sun shade for $1,150, metallic paint for $595, heads-up display for $900, built-in child seat for $500, carbon fiber trim for $800, Bowers and Wilkens sound system for $3,200, heated steering wheel for $300, rear air suspension for $1,200, 20-inch wheels with summer tires for $300, and the destination charge. All told, it cost $68,290, which is close to the base price of the Jaguar, but a whole lot less than the Jag's as-tested price, making the Volvo a great value. Interior and Technology But value isn't the only reason to buy a car, especially a luxury car. You want it to feel luxurious.

Volvo Cars' sales of fully electric vehicles jump in October

STOCKHOLM - Volvo Cars' sales in October grew 10% from a year earlier to 59,861 cars as fully electric car sales jumped but hybrid models fell, the Sweden-based group said on Friday. Volvo Cars said in a statement sales of fully electric cars rose 29% to account for 18% of all its cars sold in the month. Sales of hybrid cars, however, fell 8%. In total, all recharge models were up 7% to account for 36% of total sales. Shares in the group, which is majority-owned by China's Geely Holding, were up 6% in morning trade, taking the year-to-date drop to 12%. CEO Jim Rowan last week said he saw healthy demand for Volvo cars and widening profit margins for its battery electric vehicles (BEV) this quarter, against the third, as the group posted third-quarter profits that lagged estimates. Rivals such as General Motors, Ford, Tesla and Volkswagen have earlier warned that demand for EVs was not developing as expected. Volvo Cars said on Friday that sales in the biggest market Europe were up 13% in October. Sales in the U.S. were up 19% while, in China, they were flat. (Reporting by Anna Ringstrom, Editing by Terje Solsvik and Jacqueline Wong)