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Volvo Cars Reports 31 Per Cent Increase In Global Sales In May 2023; EV Sales Up By 196 Per Cent

During the month of May, the Volvo XC60 emerged as the top-selling model, with sales totalling 18,052 vehicles, followed closely by the XC40, which achieved sales of 17,596 units
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By car&bike Team

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1 mins read

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Published on June 10, 2023

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Highlights

  • Volvo Cars has sold a total of 60,398 cars worldwide in May
  • Volvo Cars achieved sales of 2,75,312 vehicles in the first 5 months of 2023
  • In the United States, Volvo Cars experienced a growth rate of 14 per cent in May, with 10,723 vehicles sold

Volvo Cars sold a total of 60,398 cars worldwide in May, reporting an increase of 31 per cent compared to the same month last year. The growth was primarily driven by the surge in sales of Volvo's fully electric vehicles, which experienced a 196 per cent rise during this period. 

 

Also Read: Volvo C40 Recharge Makes India Debut; Launch In August 2023

 

During the month of May, the Volvo XC60 emerged as the top-selling model, with sales totalling 18,052 vehicles, followed closely by the XC40, which achieved sales of 17,596 units. The XC90 also performed well, with 9,058 cars sold.

2020 Volvo S60 Lineup Sedan L01

Europe has emerged as a strong market for Volvo Cars, with sales reaching 26,272 vehicles in May, marking a 40 per cent year-on-year increase

 

Furthermore, figures from May 2022 were negatively affected by lower production due to last year’s supply chain constraints.

 

Volvo Cars achieved sales of 2,75,312 vehicles in the first 5 months of 2023, which is a 14 per cent increase compared to the corresponding period in 2022. 

 

Also Read: Volvo Unveils EX30 Electric Crossover and Cross-Country Variant

 

The company's Recharge models, which include fully electric and plug-in hybrid cars, played a significant role in the sales boost, with a 55 per cent increase in May. These models accounted for 40 per cent of Volvo's global sales during the month, and Volvo’s fully electric cars have contributed to 18 per cent of the total.

 

Europe has emerged as a strong market for Volvo Cars, with sales reaching 26,272 vehicles in May, marking a 40 per cent year-on-year increase. Recharge models dominated the European market, accounting for 63 per cent of overall sales, while fully electric cars represented 29 per cent of the total.

 

Also Read: Volvo EX30 Electric SUV Revealed: Entry-Level Volvo EV Has Up To 480 KM Range

 

In the United States, Volvo Cars experienced a growth rate of 14 per cent in May, with 10,723 vehicles sold. The Recharge models account for a 28 per cent share of total sales, while the sales of fully electric cars saw a 66 per cent increase compared to last year.

 

The Chinese market also demonstrated steady growth, as Volvo Cars sold 14,121 vehicles in May, reflecting a 49 per cent year-on-year increase. Recharge models have seen a 116 per cent surge contributing to 8 per cent of the total sales in China.

 

 

 

 

May

May

 

Jan-May

Jan-May

 

 

2023

2022

Change

2023

2022

Change

 

 

 

 

 

 

 

Europe

26,272

18,752

40%

119,747

103,731

15%

Recharge

16,481

8,813

87%

74,552

53,120

40%

 - Fully electric

7,655

1,847

314%

34,130

12,171

180%

 - Plug-in hybrid

8,826

6,966

27%

40,422

40,949

-1%

 

 

 

 

 

 

 

China

14,121

9,488

49%

63,121

53,765

17%

Recharge

1,181

547

116%

6,271

4,367

44%

 - Fully electric

263

143

84%

1,531

768

99%

 - Plug-in hybrid

918

404

127%

4,740

3,599

32%

 

 

 

 

 

 

 

US

10,723

9,372

14%

46,817

42,151

11%

Recharge

3,039

3,348

-9%

13,696

13,787

-1%

 - Fully electric

1,342

807

66%

5,480

3,258

68%

 - Plug-in hybrid

1,697

2,541

-33%

8,216

10,529

-22%

 

 

 

 

 

 

 

Other

9,282

8,340

11%

45,627

41,750

9%

Recharge

3,266

2,737

19%

17,479

12,042

45%

 - Fully electric

1,566

855

83%

8,584

3,885

121%

 - Plug-in hybrid

1,700

1,882

-10%

8,895

8,157

9%

 

 

 

 

 

 

 

Total

60,398

45,952

31%

275,312

241,397

14%

Recharge

23,967

15,445

55%

111,998

83,316

34%

 - Fully electric

10,826

3,652

196%

49,725

20,082

148%

 - Plug-in hybrid

13,141

11,793

11%

62,273

63,234

-2%

 

 

Written by: RONIT AGARWAL

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Last Updated on June 10, 2023


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