Volvo Cars reports global sales of 51,286 in February

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

 

Sales of Volvo Cars’ Recharge models made up 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 February last year to 8,560 cars sold. The increase was led by Volvo’s SUV range but also due to sales in February last year were negatively affected by lower production on the back of 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 that 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 with the same period 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 cars (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%

 

 

 


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

-------------------------------

Volvo Cars in 2022
For the full year 2022, Volvo Car Group recorded an operating profit of 22.3 billion SEK. Revenue in 2022 amounted to 330.1 billion SEK, 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”.

Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This is reflected in its 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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