Volvo Cars’ Sales up 10 Per Cent in October

Volvo Cars reports its 14^th consecutive month of growth as global sales reached 59,861 cars in October, up 10 per cent compared to last year. The sales increase was primarily driven by the company’s fully electric vehicles.

For January-October 2023, the company sold 569,019 cars, which is 18 per cent higher compared to the same period in 2022.

In October, Volvo Cars’ electrified Recharge models, with a fully electric or plug-in hybrid powertrain, comprised 36 per cent of all Volvo cars sold globally during the month. Sales of fully electric vehicles grew by 29 per cent compared to the same period last year and comprised 18 per cent of total sales, which was 12 per cent in October 2022.

For Europe, sales grew to 24,892 cars, an increase of 13 per cent compared to the same month last year.  Sales of Recharge cars accounted for 55 per cent of the total sales in the region.

Volvo Cars’ sales in the US grew 19 per cent compared to the same month last year, amounting to 11,296 cars. Sales of fully electric cars grew 49 per cent, and Recharge models constituted 27 per cent of all vehicles sold in the US during October.

Sales in China remained flat in October compared to the same period last year, resulting in 15,041 cars. Recharge cars grew by 27 per cent.

In October, Volvo’s XC60 was the top-selling model, with sales reaching 20,212 (2022:17,531), followed by the XC40, with total sales at 17,022 cars (2022: 14,883 units), and XC90 at 7,961 vehicles (2022: 7,651 units).

	October		October		Jan-Oct	Jan-Oct
	2023		2022	Change	2023	2022	Change
Europe	24,892		22,030	13%	233,661	188,046	24%
Recharge	13,663		14,287	-4%	138,989	95,601	45%
– Fully electric	7,009		6,172	14%	59,775	26,746	123%
– Plug-in hybrid	6,654		8,115	-18%	79,214	68,855	15%
China	15,041		15,048	0%	138,969	132,792	5%
Recharge	1,166		917	27%	12,298	9,168	34%
– Fully electric	237		80	196%	2,768	2,025	37%
– Plug-in hybrid	929		837	11%	9,530	7,143	33%
US	11,296		9,478	19%	103,421	81,694	27%
Recharge	3,041		2,528	20%	29,387	21,943	34%
– Fully electric	1,240		835	49%	12,083	5,100	137%
– Plug-in hybrid	1,801		1,693	6%	17,304	16,843	3%
Other	8,632		7,761	11%	92,968	80,772	15%
Recharge	3,473		2,265	53%	33,897	21,860	55%
– Fully electric	2,003		1,061	89%	16,492	6,646	148%
– Plug-in hybrid	1,470		1,204	22%	17,405	15,214	14%
Total	59,861		54,317	10%	569,019	483,304	18%
Recharge	21,343		19,997	7%	214,571	148,572	44%
– Fully electric	10,489		8,148	29%	91,118	40,517	125%
– Plug-in hybrid	10,854		11,849	-8%	123,453	108,055	14%