Volvo Cars USA reports that its car sales in the United States increased in October by 19 percent year-over-year to 11,296. During the first ten months of the year, sales amounted to 103,421 (up 27% year-over-year).
Volvo's plug-in electric car sales outpaced this growth, but only slightly. Last month, rechargeable car sales amounted to 3,041 (up 20 percent year-over-year), which is 26.9 percent of the brand's total volume.
The key thing to look at is the all-electric car sales, which amounted to 1,240 units (up 49 percent year-over-year) enough to represent 11 percent of the total sales. This is the most important segment for Volvo, as the brand intends to become all-electric within several years. Plug-in hybrids this time were up only by six percent year-over-year.
Volvo plug-in car sales last month (YOY change):
- BEVs: 1,240 (up 49%) and 11% share
- PHEVs: 1,801 (up 6%) and 15.9% share
- Total Recharge: 3,041 (up 20%) and 26.9% share
Volvo Recharge sales in the US - October 2023
So far this year, Volvo sold over 29,000 plug-in electric cars in the US, which is roughly 28 percent of the total volume. BEVs alone represent 12 percent.
Volvo plug-in car sales year-to-date (YOY change):
- BEVs: 12,083 (up 137%) and 11.7% share
- PHEVs: 17,304 (up 3%) and 16.7% share
- Total Recharge: 29,387 (up 34%) and 28.4% share
As we can see, all-electric cars are the main force of growth, as PHEVs are barely up in terms of volume, while their share actually decreased from over 20 percent a year ago to less than 17 percent this year.
For reference, in 12 months of 2022, the total volume amounted to 27,909 (27.4 percent of the total volume). This year is already better than 2022.
In the future, Volvo's BEV lineup will be expanded by the all-new Volvo EX90 model and the Volvo EX30, which will start at an MSRP of $36,245. Most recently, the company announced also an all-electric MPV – the Volvo EM90. The next-generation models are crucial for Volvo's plan to become 100% all-electric by 2030.