Volvo Cars Reports Global Sales of 51,286 in February

Volvo Cars reported sales of 51,286 cars in February, up 22 per cent compared to the same month last year and a record for February. The company’s Recharge lineup of fully electric and plug-in hybrid cars led the sales growth.

Sales of Volvo Cars’ Recharge models comprised 40 per cent of all Volvo cars sold globally during the month. The company’s fully electric car sales increased by 187 per cent compared with the same month last year and comprised 19 per cent of the total sales in February.

The US reported a solid performance, with sales 38 per cent higher than in February last year, with 8,560 cars sold. The increase was led by Volvo’s SUV range but also due to sales in February previous year being negatively affected by lower production due to supply chain constraints. The share of Recharge cars reached 29 per cent during the month.

China sales reached 13,066 cars, up 50 per cent compared with February last year. The strong growth was partially due to the timing of the Lunar New Year, which affected sales in February 2022. Recharge models accounted for 9 per cent of the total sales for the month.

European sales for February reached 21,278 cars, up 9 per cent compared to last year. The share of Recharge cars reached 64 per cent.

In February, Volvo’s XC60 was the top-selling model, with sales reaching 16,088 cars (2022: 13,503), followed by the XC40, with total sales at 15,398 vehicles (2022: 12,611 units), and XC90 at 7,114 cars (2022: 5,582 units).

February					January- February
	2023	2022	Change		2023	2022	Change
Europe	21,278	19,512	9%		42,714	38,203	12%
Recharge	13,698	9,894	38%		26,518	19,820	34%
– Plug-in hybrid	6,983	7,684	-9%		14,466	15,624	-7%
– Fully electric	6,715	2,210	204%		12,052	4,196	187%
China	13,066	8,691	50%		24,849	23,320	7%
Recharge	1130	682	66%		2,388	1,829	31%
– Plug-in hybrid	958	618	55%		1,897	1,657	15%
– Fully electric	172	64	167%		491	172	186%
US	8,560	6,219	38%		16,253	13,329	22%
Recharge	2,436	1,680	45%		4,806	3,588	34%
– Plug-in hybrid	1,463	1,124	30%		3,062	2,604	18%
– Fully electric	973	556	75%		1744	984	77%
Other	8,382	7,645	10%		15,990	14,776	8%
Recharge	3,414	1,609	112%		6,708	3,699	81%
– Plug-in hybrid	1,700	1,101	54%		3,547	2,586	37%
– Fully electric	1714	508	237%		3,161	1,113	184%
Total	51,286	42,067	22%		99,806	89,628	11%
Recharge	20,678	13,865	49%		40,420	28,936	40%
– Plug-in hybrid	11,104	10,527	6%		22,972	22,471	2%
– Fully electric	9,574	3,338	187%		17,448	6,465	170%