Volvo Cars’ sales up 10 per cent in October

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

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

In October, Volvo Cars’ electrified Recharge models, with a fully electric or plug-in hybrid powertrain, made up 36 per cent of all Volvo cars sold globally during the month. Sales of fully electric cars 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 percent and Recharge models constituted 27 per cent of all cars 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 cars (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%

 


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 2022 
For the full year 2022, Volvo Car Group recorded an operating profit of SEK 22.3 billion. Revenue in 2022 amounted to SEK 330.1 billion, while global sales reached 615,121 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 be a climate-neutral company by 2040. 

As of December 2022, Volvo Cars employed approximately 43,200 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, Camarillo (US) and Shanghai (China). 

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