Volvo Cars' global sales up 6 per cent in July
Volvo Cars reported global sales of 57,447 cars in July, up 6 per cent compared to the same period last year. The sales increase was primarily driven by the strong sales of our fully electric cars in Europe.
The company's sales of electrified models, including both fully electric and plug-in hybrid models, grew 49 per cent compared to the same period last year and accounted for 49 per cent of all cars sold during July. The share of fully electric cars constituted 25 per cent of all cars sold for the month.
The total sales for the period of January through July amounted to 445,520 cars globally, an increase of 13 per cent compared to the same period 2023.
“We are pleased to report another month of sales growth, which is driven largely by the sales in Europe despite a generally challenging market environment,” said Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars.
In Europe, sales reached 28,390 cars in July, up 40 per cent compared to the same period last year. The sales of Volvo Cars' electrified models increased by 64 per cent compared to the same period last year, and the share of electrified models accounted for 65 per cent of all cars sold in Europe during July.
Sales in the US decreased 11 percent in July, totaling 9,597 cars. However, sales of plug-in hybrid models increased 73 percent compared to the same period last year.
Volvo Cars' sales in China reached 9,775 cars, down 31 per cent compared to July 2023. Sales of electrified models – fully electric and plug-in hybrid models - stood at 1,130 sold cars, a decrease of 3 per cent compared to the same period last year.
In July, the Volvo XC60 was the top-selling model with sales of 15,577 cars (2023: 18,259), followed by the XC40/EX40, with total sales of 13,818 cars (2023: 14,594) and the EX30 at 9,201 cars (2023: 0).
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July |
July |
Jan-Jul |
Jan-Jul |
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2024 |
2023 |
Change |
2024 |
2023 |
Change |
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Europe |
28 390 |
20 286 |
40% |
222 024 |
167 229 |
33% |
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Electrified Models |
18 482 |
11 285 |
64% |
142 437 |
101 545 |
40% |
|
- Fully electric |
10 314 |
2 712 |
280% |
81 720 |
42 329 |
93% |
|
- Plug-in hybrid |
8 168 |
8 573 |
-5% |
60 717 |
59 216 |
3% |
|
Mild hybrids/ICE |
9 908 |
9 001 |
10% |
79 587 |
65 684 |
21% |
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|
China |
9 775 |
14 182 |
-31% |
87 937 |
92 708 |
-5% |
|
Electrified models |
1 130 |
1 170 |
-3% |
7 386 |
8 735 |
-15% |
|
- Fully electric |
298 |
253 |
18% |
2 466 |
2 054 |
20% |
|
- Plug-in hybrid |
832 |
917 |
-9% |
4 920 |
6 681 |
-26% |
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Mild hybrids/ICE |
8 645 |
13 012 |
-34% |
80 551 |
83 973 |
-4% |
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US |
9 597 |
10 785 |
-11% |
70 609 |
70 535 |
0% |
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Electrified models |
3 762 |
3 132 |
20% |
22 413 |
20 621 |
9% |
|
- Fully electric |
520 |
1 255 |
-59% |
2 501 |
8 858 |
-72% |
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- Plug-in hybrid |
3 242 |
1 877 |
73% |
19 912 |
11 763 |
69% |
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Mild hybrids/ICE |
5 835 |
7 653 |
-24% |
48 196 |
49 914 |
-3% |
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Other |
9 685 |
8 912 |
9% |
64 950 |
65 384 |
-1% |
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Electrified models |
4 505 |
3 115 |
45% |
29 311 |
24 219 |
21% |
|
- Fully electric |
2 998 |
1 284 |
133% |
18 203 |
11 523 |
58% |
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- Plug-in hybrid |
1 507 |
1 831 |
-18% |
11 108 |
12 696 |
-13% |
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Mild hybrids/ICE |
5 180 |
5 797 |
-11% |
35 639 |
41 165 |
-13% |
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Total |
57 447 |
54 165 |
6% |
445 520 |
395 856 |
13% |
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Electrified models |
27 879 |
18 702 |
49% |
201 547 |
155 120 |
30% |
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- Fully electric |
14 130 |
5 504 |
157% |
104 890 |
64 764 |
62% |
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- Plug-in hybrid |
13 749 |
13 198 |
4% |
96 657 |
90 356 |
7% |
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Mild hybrids/ICE |
29 568 |
35 463 |
-17% |
243 973 |
240 736 |
1% |
For further information please contact:
Volvo Cars Media Relations
+46 31-59 65 25
media@volvocars.com
Volvo Cars Investor Relations
John Hernander
+46 31-793 94 00
investors@volvocars.com
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Volvo Cars in 2023
For the full year 2023, Volvo Car Group recorded a record-breaking core operating profit of SEK 25.6 billion. Revenue in 2023 amounted to an all-time high of SEK 399.3 billion, while global sales reached a record 708,716 cars.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.
"For life. To give people the freedom to move in a personal, sustainable and safe way." This purpose is reflected in Volvo Cars' ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to achieve net-zero greenhouse gas emissions by 2040.
As of December 2023, Volvo Cars employed approximately 43,400 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).