Volvo Cars reported global sales of 65,838 cars, up 27 percent compared to the same period last year. The sales increase was primarily driven by a strong performance in Europe as well as the company’s fully electric small SUV, the EX30.
The company’s electrified models, with a fully electric or plug-in hybrid powertrain, grew 53 percent compared to the same period last year and accounted for 48 percent of all cars sold during April. The share of fully electric cars constituted 26 percent for the month.
The total sales for the period of January through April amounted to 214,914 cars globally, an increase of 16 percent compared to the same period 2023.
“This performance demonstrates we are making good progress on our guidance of retail sales growth of at least 15 percent for the full year 2024,” said Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars. “I am also happy to see the positive reception from EX30 customers as we ramp up deliveries of the car, as well as the continued growth of our electrified models. This reinforces our confidence in the strength of our balanced portfolio of fully electric, plug-in hybrid and mild hybrid cars.”
In Europe, sales soared to 34,238 cars for April, up 65 percent compared to the same period last year. The new EX30 emerged as the company’s best-selling model in the region, contributing to a 76 per cent increase in the sales of Volvo Cars’ electrified models compared to the same period last year. The share of electrified models accounted for 67 percent of all cars sold in Europe during April.
Sales in the US saw a 10 percent increase in April, totaling 10,604 cars. This growth was mainly driven by an 89 percent increase in plug-in hybrid car sales.
Volvo Cars’ sales in China reached 12,221 cars, down 3 percent compared to April in 2022. Sales of electrified models stood at 1,062 sold cars, a decrease of 16 percent compared to the same period last year.
In April, the Volvo XC60 was the top-selling model with sales of 19,542 cars (2023: 16,658), followed by the XC40, with total sales of 15,139 cars (2023: 13,740) and the EX30 at 9,730 cars (2023: 0).
| April | April | Jan-Apr | Jan-Apr | |||
| 2024 | 2023 | Change | 2024 | 2023 | Change | |
| Europe | 34 238 | 20 804 | 65% | 123 908 | 93 475 | 33% |
| Electrified models | 22 952 | 13 016 | 76% | 77 771 | 58 071 | 34% |
| – Fully electric | 13 880 | 5 428 | 156% | 45 117 | 26 475 | 70% |
| – Plug-in hybrid | 9 072 | 7 588 | 20% | 32 654 | 31 596 | 3% |
| Mild hybrids/ICE | 11 286 | 7 788 | 45% | 46 137 | 35 404 | 30% |
| China | 12 221 | 12 543 | -3% | 50 179 | 49 000 | 2% |
| Electrified models | 1 062 | 1 260 | -16% | 3 505 | 5 090 | -31% |
| – Fully electric | 458 | 342 | 34% | 1 125 | 1 268 | -11% |
| – Plug-in hybrid | 604 | 918 | -34% | 2 380 | 3 822 | -38% |
| Mild hybrids/ICE | 11 159 | 11 283 | -1% | 46 674 | 43 910 | 6% |
| US | 10 604 | 9 611 | 10% | 41 555 | 36 094 | 15% |
| Electrified models | 3 334 | 2 946 | 13% | 11 422 | 10 657 | 7% |
| – Fully electric | 328 | 1 356 | -76% | 1 298 | 4 138 | -69% |
| – Plug-in hybrid | 3 006 | 1 590 | 89% | 10 124 | 6 519 | 55% |
| Mild hybrids/ICE | 7 270 | 6 665 | 9% | 30 133 | 25 437 | 18% |
| Other | 8 775 | 9 018 | -3% | 32 883 | 36 345 | -10% |
| Electrified models | 4 175 | 3 406 | 23% | 13 820 | 14 213 | -3% |
| – Fully electric | 2 424 | 1 704 | 42% | 7 721 | 7 018 | 10% |
| – Plug-in hybrid | 1 751 | 1 702 | 3% | 6 099 | 7 195 | -15% |
| Mild hybrids/ICE | 4 600 | 5 612 | -18% | 19 063 | 22 132 | -14% |
| Total | 65 838 | 51 976 | 27% | 248 525 | 214 914 | 16% |
| Electrified models | 31 523 | 20 628 | 53% | 106 518 | 88 031 | 21% |
| – Fully electric | 17 090 | 8 830 | 94% | 55 261 | 38 899 | 42% |
| – Plug-in hybrid | 14 433 | 11 798 | 22% | 51 257 | 49 132 | 4% |
| Mild hybrids/ICE | 34 315 | 31 348 | 9% | 142 007 | 126 883 | 12% |
