Volvo Cars reported 51,636 global car sales in August, which is 18 percent more than a year ago. During the first eight months of 2023, the company sold 447,492 cars (up 18 percent year-over-year).
Meanwhile, Volvo plug-in electric car sales increased by 78 percent year-over-year to 17,005, which is 32.9 percent of the total volume (compared to 21.9 percent a year ago).
August was a relatively slow month, but the growth remains strong. In the case of all-electric cars, sales increased by 167 percent year-over-year to 6,660 units. Plug-in hybrid car sales also increased, by 46 percent year-over-year to 10,345.
Considering the previous trends, now we should see better sales through the end of the year, potentially including some new records.
Volvo Recharge sales results last month:
- BEVs: 6,660 (up 167%) and 12.9% share
- PHEVs: 10,345 (up 46%) and 20.0% share
- Total: 17,005 (up 78%) and 32.9% share
So far this year, Volvo plug-in car sales amounted to over 172,000 cars (up 52 percent year-over-year), which is also 38.5 percent of the total volume.
Volvo Recharge sales year-to-date:
- BEVs: 71,424 (up 172%) and 16.0% share
- PHEVs: 100,701 (up 16%) and 22.5% share
- Total: 172,125 (up 52%) and 38.5% share
For reference, in 2022, Volvo sold over 205,000 plug-in electric cars, which was 33 percent of the total volume.
This year, Volvo Recharge car sales should easily exceed 250,000, and maybe even reach 300,000.
Geographically, as usual, most Volvo plug-in cars were sold in Europe – 10,182 in August (up 95 percent year-over-year), representing 60 percent of the total volume.
In the United States, plug-in car sales increased by 94 percent year-over-year to 2,673. That’s about 25 percent of the total sales.
In China, Volvo plug-in electric car sales remain relatively low at 1,125 units. Not only that, the volume decreased by 16 percent year-over-year.
In terms of models, Volvo’s lineup includes two all-electric models, the Volvo C40 Recharge and the Volvo XC40 Recharge. In August, Volvo XC40 Recharge sales amounted to 4,573, compared to 2,087 Volvo C40 Recharge.
In the not-too-distant future, the BEV lineup will be joined by the all-new Volvo EX90, Volvo EX30 and the recently announced Volvo EM90, which are expected to significantly increase the BEV share out of the total sales. The company’s target is 100% BEV share by 2030.
Volvo Cars detailed sales results:
