US: Volvo Plug-In Car Sales In January 2023 Improved By 24%

More than 30 percent of the total sales volume is rechargeable.

Volvo V60 Recharge T8 Silver Dawn

Mark Kane

By: Mark Kane

Feb 5, 2023 at 11:55am ET

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Volvo Cars USA reports that its car sales in the United States increased in January by eight percent year-over-year to 7,693.

More importantly, plug-in electric car sales grow noticeably faster, which increases the share of rechargeable cars out of the total volume.

In January, the company sold 2,370 plugs-ins, which is 24 percent more than a year ago and 30.8 percent of the total volume.

It's noteworthy that Volvo's all-electric car sales increased by 80 percent year-over-year to 771 - that's one-tenth out of the total for the third consecutive month. Plug-in hybrids were up too, but only by 8 percent year-over-year.

Anders Gustafsson, Senior Vice President and President and CEO, Volvo Car USA said:

“Volvo is running full steam ahead toward being fully electric by 2030. We are energized as more and more people choose to buy, lease and subscribe to Volvo cars.”

Volvo plug-in car sales:

BEVs: 771 (up 80% year-over-year) and 10.0% share
PHEVs: 1,599 (up 8% year-over-year) and 20.8% share
Total Recharge: 2,370 (up 24% year-over-year) and 30.8% share

Volvo Recharge sales in the US - January 2023

For reference, in 2022, the total volume amounted to 27,909 (22 percent more than a year earlier.

Volvo plug-in car sales year-to-date in 2022:

BEVs: 7,308 (up 14% year-over-year) and 7.2% share
PHEVs: 20,601 (up 25% year-over-year) and 20.2% share
Total Recharge: 27,909 (up 22% year-over-year) and 27.4% share

Meanwhile, in Canada, Volvo improved plug-in electric car sales by almost 108 percent year-over-year in January. The growth in Latin America was over 92 percent year-over-year. This indicates that Volvo is on a fast track to electrification.

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Volvo's lineup in the US includes only electrified models (mild hybrid, hybrid, plug-in hybrid or all-electric), including two BEVs (XC40 Recharge and C40 Recharge). In the near future, it will be joined by the all-new Volvo EX90 model, which will be produced locally (alongside the Polestar 3).

By 2030, Volvo intends to increase all-electric car sales share to 100% (globally), as well as increase sales volume to 1.2 million units annually.