US: Volvo Plug-In Car Sales Accelerated In February 2023

All-electric car sales accounted for more than 11 percent of the total volume.

By: Mark Kane

Mar 6, 2023 at 8:39am ET

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Volvo Cars USA reports that its car sales in the United States increased in February by almost 38 percent year-over-year to 8,560. After the first two months, the company sold 16,253 cars (up 22 percent).

It seems that the company has finally solved supply issues and can now focus on sales and electrification, which progresses quite well too.

In February, Volvo sold 2,436 plug-ins, which is 45 percent more than a year ago and 28.5 percent of the total volume.

More importantly, all-electric car sales increased by 75 percent year-over-year to 973 and for the fourth consecutive month exceeded 10 percent share (reaching 11.4% last month). Those are really very good numbers, considering only two BEV models (XC40 Recharge and C40 Recharge).

Volvo plug-in car sales:

BEVs: 973 (up 75% year-over-year) and 11.4% share
PHEVs: 1,463 (up 32% year-over-year) and 17.1% share
Total Recharge: 2,436 (up 45% year-over-year) and 28.5% share

Volvo Recharge sales in the US - February 2023

So far this year, Volvo sold in the US more than 4,800 plug-in electric cars (up 34 percent year-over-year), which is roughly 30 percent of the total volume.

Volvo plug-in car sales year-to-date in 2023:

BEVs: 1,744 (up 77% year-over-year) and 10.7% share
PHEVs: 3,062 (up 18% year-over-year) and 18.8% share
Total Recharge: 4,806 (up 34% year-over-year) and 29.6% share

For reference, in 12 months of 2022, the total volume amounted to 27,909 (22 percent more than a year earlier).

Meanwhile, in Canada, Volvo improved plug-in electric car sales by 65 percent year-over-year in February and the share amounted to 44 percent of the total volume.

What do you think?

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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.