China Props Up Volvo’s Sales Volume

Surging sales in China offset falling demand in the U.S. for Volvo Car Corp. last year, advancing the company's worldwide sales 1.4% to 427,800 units.

Demand in China soared 46% to 61,100 vehicles in 2012, including a 54% hike to a record 6,700 units in December. Volume in the U.S. fell 10% to 61,200 units, dragged down by a 21% drop to 4,900 vehicles last month.

Sales in Europe were flat at 226,100 units last year but jumped 20% to 23,500 vehicles in December. Volvo says the end-of-year surge in the region was driven by strong demand for its V60 and best-selling

v40 cars, especially in the Netherlands, Norway and the U.K.

Sales in Sweden, the brand's third-largest market, rose 1% to 52,300 vehicles last year in spite of last month's 2% decline to 5,600 units.