US: Volvo All-Electric Car Sales Almost Quadrupled In June 2023

Volvo's all-electric car sales for the first time outpaced plug-in hybrid car sales.

Volvo XC40 Recharge

Mark Kane

By: Mark Kane

Jul 9, 2023 at 2:43pm ET

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Volvo Cars USA reports that its car sales in the United States increased in June by 53 percent year-over-year to 12,933. During the first six months of the year, sales amounted to 59,750 (up 18% year-over-year).

Volvo's plug-in electric car sales also increased in June, reaching 3,793 units (up 79 percent year-over-year), which was the second-highest monthly result ever. Rechargeable cars represented more than 29 percent of the brand's total volume.

One of the most interesting things is sales of all-electric cars, which amounted to 2,123 (up 284 percent year-over-year). This is the new all-time record for BEVs.

Not only that, for the very first time, Volvo all-electric car sales were higher than plug-in hybrid car sales. PHEVs are struggling this year, which indicates that we should accustom ourselves tothe situation when BEVs are in charge.

Volvo plug-in car sales last month:

BEVs: 2,123 (up 284% year-over-year) and 16.4% share
PHEVs: 1,670 (up 7% year-over-year) and 12.9% share
Total Recharge: 3,793 (up 79% year-over-year) and 29.3% share

Volvo Recharge sales in the US - June 2023

During the second quarter of 2023, Volvo sold in the US 9,778 new plug-in electric cars (one percent less than a year ago). However, when it comes to BEVs, the result of 4,821 units was 124 percent higher than a year ago.

So far this year, Volvo sold almost 17,500 plug-in electric cars in the US, which is roughly 29 percent of the total volume. BEVs were up 100 percent year-over-year, more than compensating for the decline of PHEVs.

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

BEVs: 7,603 (up 100% year-over-year) and 12.7% share
PHEVs: 9,886 (down 18% year-over-year) and 16.5% share
Total Recharge: 17,489 (up 10% 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.

Prices

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
(kWh) EPA
Range 0-60
mph
(sec) Top
Speed 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

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Comments

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.