Volvo Cars USA reports that its car sales in the United States increased in May by 14 percent year-over-year to 10,723. During the first five months of the year, sales amounted to 46,817 (up 11% year-over-year).

In the case of plug-in car sales, Volvo noted a slight year-over-year decline in May. The company sold 3,039 units (down 9 percent), which represents over 28 percent of the total volume.

The negative result is associated with plug-in hybrid car sales (which decreased by 33 percent) because all-electric car sales surged, reaching 1,342 units (up 66 percent year-over-year). For BEVs, only April (1,356) was slightly better and new records are might just around the corner.

Volvo plug-in car sales last month:

  • BEVs: 1,342 (up 66% year-over-year) and 12.5% share
  • PHEVs: 1,697 (down 33% year-over-year) and 15.8% share
  • Total Recharge: 3,039 (down 9% year-over-year) and 28.3% share

Volvo Recharge sales in the US - May 2023

So far this year, Volvo sold in the US more than 13,600 plug-in electric cars, which is roughly 29 percent of the total volume. BEVs were up 68 percent year-over-year and, sooner rather than later, should exceed PHEVs, which were down 22 percent.

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

  • BEVs: 5,480 (up 68% year-over-year) and 11.7% share
  • PHEVs: 8,216 (down 22% year-over-year) and 17.5% share
  • Total Recharge: 13,696 (down 0.7% year-over-year) and 29.3% share

For reference, in 12 months of 2022, the total volume amounted to 27,909 (27.4 percent of the total volume).

To further increase all-electric car sales in the US, Volvo recently announced the 2024 model year versions of the C40 Recharge And XC40 Recharge, which are noticeably more attractive in terms of specs than the current 2023 model year versions.

The imported Volvo models are not eligible for the $7,500 federal tax credit, but the incentive might be included in the lease rates.


Model Base Price Dest. Charge Tax Credit Effective Price
2023 Volvo C40 Recharge 19-inch $55,300 +$1,095 N/A $56,395
2023 Volvo XC40 Recharge 19-inch $53,550 +$1,095 N/A $54,645

Basic specs

Model Drive Battery
2023 Volvo C40 Recharge 19-inch AWD 78 226 mi
(364 km)
4.5 112 mph
(180 km/h)
2023 Volvo XC40 Recharge 19-inch AWD 78 223 mi
(359 km)
4.7 112 mph
(180 km/h)
2024 Volvo C40 Recharge RWD 19-inch RWD 82 297 mi*
(478 km)
2024 Volvo C40 Recharge AWD 19-inch AWD 78 257 mi*
(414 km)
2024 Volvo XC40 Recharge RWD 19-inch RWD 82 293 mi*
(471 km)
2024 Volvo XC40 Recharge AWD 19-inch AWD 78 254 mi*
(409 km)

* estimated/unofficial values

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, the lineup will be joined by the all-new Volvo EX90 model, which will be produced locally (alongside the Polestar 3) and the recently unveiled Volvo EX30.

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.

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