Volvo Cars August-October sales volumes down 16% year-on-year (updated)
UPDATE 1-Volvo Cars August-October sales volumes down 16% year-on-year Adds detail on sales volumes, quotes in bullets 1-6
STOCKHOLM, Nov 4 (Reuters) - Sweden-based Volvo Cars VOLCARb.ST sold 141,656 vehicles in the three months through October, down 16% from the same period a year earlier, the company said on Wednesday.
Fully electric car sales volumes rose 27% to account for 34% of total sales, while plug-in hybrid sales fell 30%, accounting for 20% of volumes, it said
"In China, we are adapting to lower demand and focusing on stabilising the business rather than chasing volumes," the company said in a statement
"In Europe, underlying demand for our fully electric cars remains strong, particularly for the EX60, with orders already exceeding 50,000 cars"
"(EX60) deliveries are currently impacted by the ongoing production ramp-up, but we are steadily improving built volumes"
Volvo Cars is majority-owned by China's Geely Holding GEELY.UL
The company last month posted weaker-than-expected earnings and said it will cut another 2,500 jobs, sending its share price to record lows
(Reporting by Anna Ringstrom, editing by Terje Solsvik and Louise Rasmussen)
((anna.ringstrom@thomsonreuters.com))