Volvo Cars reported 51,636 global car sales in August, which is 18 percent more than a year ago. During the first eight months of 2023, the company sold 447,492 cars (up 18 percent year-over-year).
Meanwhile, Volvo plug-in electric car sales increased by 78 percent year-over-year to 17,005, which is 32.9 percent of the total volume (compared to 21.9 percent a year ago).
August was a relatively slow month, but the growth remains strong. In the case of all-electric cars, sales increased by 167 percent year-over-year to 6,660 units. Plug-in hybrid car sales also increased, by 46 percent year-over-year to 10,345.
Considering the previous trends, now we should see better sales through the end of the year, potentially including some new records.
Volvo Recharge sales results last month:
- BEVs: 6,660 (up 167%) and 12.9% share
- PHEVs: 10,345 (up 46%) and 20.0% share
- Total: 17,005 (up 78%) and 32.9% share
Volvo Recharge sales - August 2023
So far this year, Volvo plug-in car sales amounted to over 172,000 cars (up 52 percent year-over-year), which is also 38.5 percent of the total volume.
Volvo Recharge sales year-to-date:
- BEVs: 71,424 (up 172%) and 16.0% share
- PHEVs: 100,701 (up 16%) and 22.5% share
- Total: 172,125 (up 52%) and 38.5% share
This year, Volvo Recharge car sales should easily exceed 250,000, and maybe even reach 300,000.
Geographically, as usual, most Volvo plug-in cars were sold in Europe - 10,182 in August (up 95 percent year-over-year), representing 60 percent of the total volume.
In the United States, plug-in car sales increased by 94 percent year-over-year to 2,673. That's about 25 percent of the total sales.
In China, Volvo plug-in electric car sales remain relatively low at 1,125 units. Not only that, the volume decreased by 16 percent year-over-year.
In terms of models, Volvo's lineup includes two all-electric models, the Volvo C40 Recharge and the Volvo XC40 Recharge. In August, Volvo XC40 Recharge sales amounted to 4,573, compared to 2,087 Volvo C40 Recharge.
In the not-too-distant future, the BEV lineup will be joined by the all-new Volvo EX90, Volvo EX30 and the recently announced Volvo EM90, which are expected to significantly increase the BEV share out of the total sales. The company's target is 100% BEV share by 2030.
Volvo Cars detailed sales results: