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Volvo Cars’ Global Sales up 27 per Cent in April

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Volvo Cars reports global sales of 65,838 cars, up 27 per cent compared to the same period last year. The sales increase was primarily driven by a strong performance in Europe as well as the company’s fully electric small SUV, the EX30.

The company’s electrified models, with a fully electric or plug-in hybrid powertrain, grew 53 per cent compared to the same period last year and accounted for 48 per cent of all cars sold during April. The share of fully electric cars constituted 26 per cent for the month.

Total sales for the period of January through April amounted to 214,914 cars globally, an increase of 16 per cent compared to the same period in 2023. 

“This performance demonstrates we are making good progress on our guidance of retail sales growth of at least 15 per cent for the full year 2024,” said Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars. “I am also happy to see the positive reception from EX30 customers as we ramp up deliveries of the car, as well as the continued growth of our electrified models. This reinforces our confidence in the strength of our balanced portfolio of fully electric, plug-in hybrid and mild hybrid cars.”

In April, sales soared to 34,238 cars in Europe, up 65 per cent compared to the same period last year. The new EX30 emerged as the company’s best-selling model in the region, contributing to a 76 per cent increase in the sales of Volvo Cars’ electrified models compared to the same period last year. The share of electrified models accounted for 67 per cent of all cars sold in Europe during April.

Sales in the US increased 10 per cent in April, totalling 10,604 cars. This growth was mainly driven by an 89 per cent increase in plug-in hybrid car sales.

Volvo Cars’ sales in China reached 12,221 cars, down 3 per cent compared to April in 2022. Sales of electrified models stood at 1,062 sold cars, a decrease of 16 per cent compared to the same period last year.

In April, the Volvo XC60 was the top-selling model, with sales of 19,542 cars (2023: 16,658). It was followed by the XC40, with total sales of 15,139 cars (2023: 13,740), and the EX30, with sales of 9,730 cars (2023: 0).

 
April
April
 
Jan-Apr
Jan-Apr
 
  2024 2023 Change 2024 2023 Change
             
Europe
34 238
20 804
65%
123 908
93 475
33%
Electrified models 22 952 13 016 76% 77 771 58 071 34%
 – Fully electric 13 880 5 428 156% 45 117 26 475 70%
 – Plug-in hybrid 9 072 7 588 20% 32 654 31 596 3%
Mild hybrids/ICE 11 286 7 788 45% 46 137 35 404 30%
             
China
12 221
12 543
-3%
50 179
49 000
2%
Electrified models 1 062 1 260 -16% 3 505 5 090 -31%
 – Fully electric 458 342 34% 1 125 1 268 -11%
 – Plug-in hybrid 604 918 -34% 2 380 3 822 -38%
Mild hybrids/ICE 11 159 11 283 -1% 46 674 43 910 6%
             
US
10 604
9 611
10%
41 555
36 094
15%
Electrified models 3 334 2 946 13% 11 422 10 657 7%
 – Fully electric 328 1 356 -76% 1 298 4 138 -69%
 – Plug-in hybrid 3 006 1 590 89% 10 124 6 519 55%
Mild hybrids/ICE 7 270 6 665 9% 30 133 25 437 18%
             
Other
8 775
9 018
-3%
32 883
36 345
-10%

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