Volvo Cars reports January sales – 40.7% market share of electrified cars

Volvo Cars reported sales of 48,520 in January, up 2 per cent compared to the same month last year.

Sales of Volvo Cars´ Recharge models of fully electric and plug-in hybrid cars increased by 31 per cent in January year-on-year, accounting for 40.7 per cent of all Volvo cars sold globally during the month. The share of fully electric cars stood at 16.2 per cent.

European sales for January reached 21,436 cars, up 14.7 per cent compared with the same period last year. The increase was led by markets such as the UK, Italy and Belgium. Recharge sales, which in addition to fully electric cars also includes plug-in hybrids, accounted for 59.8 per cent of the total sales in the region during the month.

US sales reached 7,693 cars, up 8.2 per cent compared with January last year. The share of Recharge models accounted for 30.8 per cent of the total sales for the month.

In China, sales declined by 19.5 per cent to 11,783 cars in January due to the timing of the Chinese New Year. The share of Recharge cars reached 10.7 per cent.

In January, Volvo’s XC60 was the top selling model with sales reaching 16,016 cars (2022: 14,516), followed by the XC40, with total sales at 14,038 cars (2022: 12,286 units), and the Volvo XC90 at 7,438 cars (2022: 7,243 units).