Volvo More Than Doubled Plug-In Car Sales In June 2023

Volvo all-electric car sales more than quadrupled.

Volvo C40

Mark Kane

By: Mark Kane

Jul 10, 2023 at 8:45am ET

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Volvo Cars reports 66,379 global car sales in June, which is 33 percent more than a year ago. During the first six months of 2023, the company sold 341,691 cars (up 17 percent year-over-year).

Meanwhile, plug-in electric car sales more than doubled last month. Volvo reports 24,420 plug-in car sales in June (up 129 percent year-over-year), which represented almost 37 percent of the total volume.

It's worth noting that the company is quickly increasing its all-electric car sales - in June by 346 percent year-over-year to 9,535 - so it's just a matter of time when BEVs will note higher results than PHEVs.

Speaking of plug-in hybrids, their sales also increased last month, reaching 14,885 units (up 75 percent year-over-year).

Volvo Recharge sales results last month:

BEVs: 9,535 (up 346%) and 14.4% share
PHEVs: 14,885 (up 75%) and 22.4% share
Total: 24,420 (up 129%) and 36.8% share

Volvo Recharge sales - June 2023

During the second quarter of 2023, Volvo sold 69,015 plug-in electric cars (up 56 percent year-over-year).

So far this year, Volvo plug-in car sales amounted to over 136,000 (up 45 percent year-over-year), which is also 40 percent of the total volume.

Volvo Recharge sales year-to-date:

BEVs: 59,260 (up 167%) and 17.3% share
PHEVs: 77,158 (up 8%) and 22.6% share
Total: 136,418 (up 45%) and 39.9% share

For reference, in 2022, Volvo sold over 205,000 plug-in electric cars, which was 33 percent of the total volume.

This year, Volvo Recharge car sales should easily exceed 250,000, and maybe even reach 300,000, if the growth accelerates to 50 percent.

Geographically, as usual, most Volvo plug-in cars were sold in Europe - 15,708 in June (up 189 percent year-over-year), representing 58 percent of the total volume.

In June, plug-in car sales increased by 79 percent year-over-year to 3,793 in the United States. That's about 29 percent of the total sales.

Meanwhile, in China, plug-in electric car sales increased by 92 percent to 1,294 (about 7 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. Both will soon get new, more-capable versions (in the US especially interesting will be the rear-wheel drive option). In June, Volvo XC40 Recharge sales amounted to 5,352, compared to 4,173 Volvo C40 Recharge.

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Next in the pipeline are the all-new Volvo EX90 and Volvo EX30, which are expected to significantly increase BEV's share in the total sales - potentially to over 50 percent.

Volvo Cars detailed sales results: