Volvo Increased All-Electric Car Sales In April 2023 By 88%

Plug-in hybrids were down slightly, indicating the ongoing shift from PHEVs to BEVs.

Volvo Recharge

Mark Kane

By: Mark Kane

May 7, 2023 at 10:09am ET

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Volvo Cars report 51,976 global car sales in April, which is 10 percent more than a year ago. During the first four months of 2023, the company sold 214,914 cars (up 10 percent year-over-year).

The growth of plug-in electric car sales is slightly higher, but nothing fancy. Last month, Volvo sold 20,628 plug-ins, which was 14 percent more than a year ago and nearly 40 percent of the total volume.

The most important thing is that all-electric car sales almost doubled to 8,830 (up 88 percent year-over-year), which is 17 percent of the total volume. It's closer and closer to matching plug-in hybrid car sales, which by the way, continue to decrease (12 percent in April, to 11,798).

Volvo Recharge result:

BEVs: 8,830 (up 88%) and 17.0% share
PHEVs: 11,798 (down 12%) and 22.7% share
Total: 20,628 (up 14%) and 39.7% share

Volvo Recharge sales - April 2023

So far this year, Volvo plug-in car sales exceeded 88,000 (up 30 percent year-over-year), which is also 41 percent of the total volume.

Volvo Recharge sales year-to-date:

BEVs: 38,899 (up 137%) and 18.1% share
PHEVs: 49,132 (down 4.5%) and 22.9% share
Total: 88,031 (up 30%) and 41.0% share

For reference, in 2022, Volvo sold over 205,000 plug-in electric cars (compared to almost 190,000 in 2021), which was a third 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 - 13,016 in April (up 28 percent year-over-year), where they represent 63 percent of the total volume.

In the United States, in April, plug-in car sales decreased by 33 percent year-over-year to 2,946. That's about 31 percent of the total sales.

Meanwhile, plug-in electric car sales in China increased by 86 percent to 1,260 (about 10 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. In April, the company sold 5,625 electric XC40s and 3,205 C40s. Both models will soon get new, more-capable versions (in the US especially interesting will be the rear-wheel drive option).

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Volvo is expected to continue the expansion of its plug-in car sales, especially all-electric ones. The next big thing will be the Volvo EX90 large SUV with a 111-kilowatt-hour (kWh) battery. For those who prefer smaller cars, the company hints at a smaller crossover EX30.

Volvo Cars detailed sales results: