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Volvo Cars' Sales Rise 22% in February

COPENHAGEN, March 3 (Reuters) - Sweden-based Volvo Car AB said on Friday sales grew 22% year-on-year in February to 51,286 cars helped by a jump for its recharge models, sending its shares up.

Volvo Cars, which is majority-owned by China's Geely Holding, said in a statement sales of fully electric cars soared 187% to account for 19% of total sales.

All recharge models, also including those not fully electric, were up 49% to account for 40% of total sales.

Volvo Cars' shares rose 3% in early trade.

In January, the group's total car sales were up 2% as they were held back in China by Chinese New Year calendar effects. In February, sales in China were up 50%.

In biggest market Europe, sales were up 9% in February.

Reporting by Louise Breusch Rasmussen, editing by Anna Ringstrom

Source: Reuters

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