Volvo Global Plug-In Car Sales Reached New Record In November 2022

Almost 25,000 units and over 42% of the total volume were rechargeable.

Volvo EX90 charging

Mark Kane

By: Mark Kane

Dec 7, 2022 at 8:05am ET

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Volvo Cars report 59,154 global car sales in November, which is 12% more than a year ago and the third consecutive positive result after over a year of decline. The year-to-date sales of 542,458 are 14.5% lower than a year ago, but the company is gradually rebounding.

In the case of plug-in electric car sales, Volvo set a new monthly record. In November, almost 25,000 Volvo Recharge cars were sold (up 44% year-over-year). That's over 42% of the total volume - also a new record share.

We are especially happy to see that all-electric car sales more than quadrupled year-over-year and for the very first time exceeded 10,000 units in a single month. Actually, BEV sales reached 11,644, nearly matching plug-in hybrids (13,310).

Volvo Recharge result:

BEVs: 11,644 (up 332%) and 19.7% share
PHEVs: 13,310 (down 9%) and 22.5% share
Total: 24,954 (up 44%) and 42.2% share

Volvo Recharge sales - November 2022

So far this year, Volvo sold over 173,000 plug-in electric cars, which is almost a third of the total volume.

Volvo Recharge sales YTD:

BEVs: 52,161 (up 149%) and 9.6% share
PHEVs: 121,365 (down 16%) and 22.4% share
Total: 173,526 (up 4.9%) and 32.0% share

For reference, in the 12 months of 2021, Volvo sold almost 190,000 plug-in electric cars.

Volvo is expected to continue the expansion of its plug-in car sales, especially all-electric ones, once it introduces its new generation of BEVs.

Geographically, as usual, most Volvo plug-in cars were sold in Europe (17,452 in November and 113,053 year-to-date).

In the US, sales increased in November, by 61% year-over-year to 2,764 (1,076 BEVs and 1,688 PHEVs).

Meanwhile, sales in China decreased by 34% to just 1,114, but there are issues with local COVID-19 lockdowns.

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In terms of models, Volvo's lineup includes two all-electric models, the Volvo C40 Recharge and the Volvo XC40 Recharge. In November, the company sold 7,082 electric XC40 (up 178%) and 4,562 C40 (up 3,046%). Both numbers are new records for the third month in a row.

Volvo Cars detailed sales results: