Volvo Cars report 60,398 global car sales in May, which is 31 percent more than a year ago when the results were negatively affected by lower production due to last year’s supply chain constraints. During the first five months of 2023, the company sold 275,312 cars (up 14 percent year-over-year).
Plug-in electric car sales are increasing even faster. Last month, Volvo sold 23,967 plug-ins, which was 55 percent more than a year ago and nearly 40 percent of the total volume.
One of the most interesting things is that all-electric car sales nearly tripled (up by 196 percent) to 10,826 units, while sales of plug-in hybrid cars increased by only 11 percent, to 13,141. Step by step, BEVs are closer and closer to PHEVs.
Volvo Recharge result:
- BEVs: 10,826 (up 196%) and 17.9% share
- PHEVs: 13,141 (up 11%) and 21.8% share
- Total: 23,967 (up 55%) and 39.7% share
So far this year, Volvo plug-in car sales amounted to nearly 112,000 (up 34 percent year-over-year), which is also 41 percent of the total volume.
Volvo Recharge sales year-to-date:
- BEVs: 49,725 (up 148%) and 18.1% share
- PHEVs: 62,273 (down 1.5%) and 22.6% share
- Total: 111,998 (up 34%) and 40.7% 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 might exceed 250,000 or maybe even reach 300,000, if the growth accelerates to 50 percent.
Geographically, as usual, most Volvo plug-in cars were sold in Europe – 16,481 in May (up 87 percent year-over-year), where they represent 63 percent of the total volume.
In the United States, in May, plug-in car sales decreased by 9 percent year-over-year to 3,039. That’s about 28 percent of the total sales.
Meanwhile, plug-in electric car sales in China increased by 116 percent to 1,181 (about 8 percent of the total).
In terms of models, Volvo’s lineup includes two all-electric models, the Volvo C40 Recharge and the Volvo XC40 Recharge. Both will soon get new, more-capable versions (in the US especially interesting will be the rear-wheel drive option).
Next in the pipeline are the all-new Volvo EX90 and Volvo EX30, which are expected to significantly increase BEV’s share in the total sales – potentially to over 50 percent.
Volvo Cars detailed sales results:
