Volvo Cars sells more cars and much more EVs

Volvo Cars reported global sales of 54 165 cars in July, up 21% compared with the same month last year. This was the eleventh consecutive month of growth year-over-year.

In the same period, fully electric car sales grew 248% to 5 504 units, just over 10% of the total, while plug-in hybrids increased 65% to 13 198 (24,3% of total sales). This means Volvo’s electrified cars or ‘Recharge’ models now account for more than 35% of total sales.

First seven months

In the first seven months of 2023, the car company sold 395 856 cars globally, up 18% compared to last year. Worldwide sales of fully electric cars went up by 172% to 64 764 units, 16,3% of total sales. Plug-in hybrids increased by 13% to 90 356 units (22,9% of total sales). Together, the Recharge models represent 39,2% of total sales.

In Europe, sales in the first seven months increased 23% to 167 229 cars (42,2% of total sales worldwide). The electrified cars represented 101 545 cars in that same period, or 60,7% of total sales in Europe. Pure electric cars sold 42 329 times or 25,3% of total sales in Europe.

The U.S. market increased by the same 23% to 70 535 cars or 17,8% of total world sales. The part of electrified cars increased by 22% to 20 621 cars, 29,2% of total sales in the U.S. Fully electric cars represented 12,5%  of total sales in the U.S.

China is a bit more worrying. In July, Volvo sales declined by 8%, though for the first 7 months, they still climbed by 8%. The 92 708 Volvos sold in China between the first of January and the 31st of July represent 23,4% of total Volvo Cars sales. Electrified cars only represent only 9,4% of total sales in China, and fully electric ones only 2,2%.

In the rest of the world, Volvo Cars still sold 65 384 cars or 16,5% of total world sales. Recharge represented 37% of that total, BEVs 17,6%.

XC60 is still the best-seller worldwide

In July, the Volvo XC60 was still the top-selling model with sales of 18 259 cars (in 2022: 16 261 units, +12,3%), followed by the XC40, with total sales at 14 594 cars (2022: 10 640 units, +37,2%) and the XC90 at 8 640 cars (2022: 7 764 units, +11,3%).

All eyes are now fixed on the sales of the two new full-electric models of the company, the EX30, and the EX90. Sales figures will follow in the coming months.