Full-year sales fell, however, by 12% to 615,121 cars.

"Volvo Cars' full year sales performance was affected by challenges across the supply chain, as well as production restraints caused by component shortages and Covid-related lockdowns in China," Volvo Cars, which is majority-owned by China's Geely Holding, said in a statement.

"Despite this, demand for Volvo Cars remained robust," it said.

(Reporting by Anna Ringstrom, editing by Terje Solsvik)