Volvo Cars reports new global sales record in 2023

Report this content

Volvo Cars sets a new global sales record as the company reports full year sales of 708,716 cars during 2023, an increase of 15 per cent compared to the full year of 2022.

The all-time-high sales record is a demonstration of Volvo Cars’ strong electrified product portfolio in combination with a more stabilised supply chain.

 

Volvo Cars also saw a significant increase in sales for its electrified cars. Last year, Volvo Cars sold 113,419 fully electric cars, an increase of 70 per cent compared to 2022, and 152,561 plug-in hybrid cars, which was a 10 per cent increase compared to 2022. Sales of fully electric cars accounted for 16 per cent of all Volvo cars sold globally during 2023.

 

For the month of December Volvo Cars sold 76,015 cars globally, an increase of 5 per cent compared to the same period in 2022.


European sales reached 294,794 cars during 2023, an increase of 19 per cent compared to 2022. Volvo Cars’ line-up of Recharge cars, with a fully electric or plug-in hybrid powertrain, accounted for 59 per cent of all the cars sold in the region last year.

Volvo Cars’ US sales for 2023 amounted to 128,701 cars, up 26 per cent compared to the full year of 2022. The number of sold Recharge cars increased by 28 per cent and accounted for 28 per cent of all cars sold in the US during the year.

Sales in China grew 5 per cent compared to 2022, resulting in 170,091 sold cars during 2023. Overall, sales of Recharge cars grew 26 per cent during the January to December period.

For 2023 the Volvo XC60 was the top-selling model with sales reaching 228,646 cars (2022: 195,338 cars), followed by the XC40, with total sales of 200,670 cars (2022: 169,206 cars), and XC90 at 107,549 cars (2022: 97,130 cars).

 

 

 

 

 

 

 

 

December

December

Jan-Dec

Jan-Dec

 

 

2023

2022

Change

2023

2022

Change

 

 

 

 

 

 

 

Europe

34,726

33,407

4%

294,794

247,413

19%

Recharge

18,933

22,661

-17%

172,575

135,714

27%

 - Fully electric

8,920

10,579

-16%

75,476

45,690

65%

 - Plug-in hybrid

10,013

12,082

-17%

97,099

90,024

8%

 

 

 

 

 

 

 

China

15,944

16,950

-6%

170,091

162,322

5%

Recharge

1,715

1,933

-11%

15,356

12,215

26%

 - Fully electric

249

777

-68%

3,281

2,999

9%

 - Plug-in hybrid

1,466

1,156

27%

12,075

9,216

31%

 

 

 

 

 

 

 

US

13,609

11,111

23%

128,701

102,038

26%

Recharge

3,232

3,202

1%

35,657

27,909

28%

 - Fully electric

686

1,132

-39%

13,609

7,308

86%

 - Plug-in hybrid

2,546

2,070

23%

22,048

20,601

7%

 

 

 

 

 

 

 

Other

11,736

11,195

5%

115,130

103,348

11%

Recharge

4,581

4,030

14%

42,392

29,514

44%

 - Fully electric

2,415

2,100

15%

21,053

10,752

96%

 - Plug-in hybrid

2,166

1,930

12%

21,339

18,762

14%

 

 

 

 

 

 

 

Total

76,015

72,663

5%

708,716

615,121

15%

Recharge

28,461

31,826

-11%

265,980

205,352

30%

 - Fully electric

12,270

14,588

-16%

113,419

66,749

70%

 - Plug-in hybrid

16,191

17,238

-6%

152,561

138,603

10%

 


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 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). 

Subscribe

Documents & Links