Volvo Cars reports February global sales – 40% market share of electrified vehicles

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).