STOCKHOLM, Aug 1 (Reuters) - Volvo Car Group’s vehicle sales rose 8.3 percent year-on-year in July, helped by strong gains in China, home to its owner Zhejiang Geely Holding Group Co. , and Sweden, its traditional home market.
Gothenburg-based Volvo said in a statement on Friday that it sold 36,438 cars in the month, boosted by growth of 47.8 percent in China and 25.8 percent in Sweden which offset a 17.1 percent decline in the United States.
During the first seven months of 2014, Volvo sold 265,451 cars, an increase of 9.3 percent over the same period last year.
Volvo is banking on strong growth in China to reach its target of annual sales of 800,000 cars by 2020, nearly double the amount it sold in 2013.
It expects to stay in the black this year and has predicted a global sales increase of 5 percent. (Reporting by Mia Shanley; Editing by Alistair Scrutton)