Volvo Cars sales up 10 per cent for the first quarter of 2023
Volvo Cars reports sales of 162,938 cars for the first three months of 2023, up 10 per cent compared to the same period last year. The sales growth was mainly led by the company's fully electric cars.
For the month of March, Volvo Cars sold 63,132 cars globally, up 8 per cent compared with the same month last year.
Volvo Cars’ Recharge line-up of chargeable models, with a fully electric or plug-in hybrid powertrain, remained popular in the first three months of the year, making up for 41 per cent of all Volvo cars sold globally. The share of fully electric cars during the period ended up at 18 per cent.
In the first three months of 2023, the company’s European sales grew to 72,671 cars, up 12 per cent compared to the same period last year. The share of Recharge models reached 62 percent of overall sales in the region.
Sales in the US grew by 16 per cent in the first three months of the year to 26,483 cars. Recharge models accounted for 29 per cent of overall sales during the first quarter.
China sales reached 36,457 cars, up 2 per cent in the first quarter compared with the same period last year. Sales of Recharge cars ended up at 11 per cent.
In March, the Volvo XC40 was the top selling model with sales of 20,556 cars (2022: 17,584), followed by the XC60, with total sales at 18,090 cars (2022: 16,855 units), and the XC90 at 9,828 cars (2022: 9,141 units).
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March 2023 |
March 2022 |
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Q1 |
Q1 |
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|
|
|
|
|
|
|
|
Europe |
29,957 |
26,954 |
11% |
|
72,671 |
65,157 |
12% |
|
Recharge |
18,537 |
14,290 |
30% |
|
45,055 |
34,110 |
32% |
|
- Fully electric |
8,995 |
3,396 |
165% |
|
21,047 |
7,592 |
177% |
|
- Plug-in hybrid |
9,542 |
10,894 |
-12% |
|
24,008 |
26,518 |
-10% |
|
|
|
|
|
|
|
|
|
|
China |
11,608 |
12,378 |
-6% |
|
36,457 |
35,698 |
2% |
|
Recharge |
1,442 |
1,314 |
10% |
|
3,830 |
3,143 |
22% |
|
- Fully electric |
435 |
263 |
65% |
|
926 |
435 |
113% |
|
- Plug-in hybrid |
1,007 |
1,051 |
-4% |
|
2,904 |
2,708 |
7% |
|
|
|
|
|
|
|
|
|
|
US |
10,230 |
9,428 |
9% |
|
26,483 |
22,757 |
16% |
|
Recharge |
2,905 |
2,430 |
20% |
|
7,711 |
6,018 |
29% |
|
- Fully electric |
1,038 |
674 |
54% |
|
2,782 |
1,658 |
68% |
|
- Plug-in hybrid |
1,867 |
1,756 |
6% |
|
4,929 |
4,360 |
13% |
|
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|
|
|
|
|
|
|
|
Other |
11,337 |
9,907 |
14% |
|
27,327 |
24,683 |
11% |
|
Recharge |
4,099 |
2,804 |
46% |
|
10,807 |
6,503 |
66% |
|
- Fully electric |
2,153 |
923 |
133% |
|
5,314 |
2,036 |
161% |
|
- Plug-in hybrid |
1,946 |
1,881 |
4% |
|
5,493 |
4,467 |
23% |
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|
|
|
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Total |
63,132 |
58,667 |
8% |
|
162,938 |
148,295 |
10% |
|
Recharge |
26,983 |
20,838 |
30% |
|
67,403 |
49,774 |
35% |
|
- Fully electric |
12,621 |
5,256 |
140% |
|
30,069 |
18,348 |
157% |
|
- Plug-in hybrid |
14,362 |
15,582 |
-8% |
|
37,334 |
38,053 |
-2% |
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 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).