Volvo cars has set its new global sales record in 2023 with 708,718 units sold, up 15% from the 615,121 units registered in 2022. Europe remains its strongest market with 294,794 units (+19% vs 2022), followed by China at 170,091 units (+5%). However, the US saw Volvo’s largest increase with 128,701 units sold, a significant 26% jump from the year before. Other markets accounted for 115,130 units, up 11%.
Now comes the juicy part: a total of 113,419 Volvo EVs was sold in the full year. While that is a healthy 70% increase over 2022, it makes up just 16% of the total sales tally – well short of Volvo’s previously announced target of having 50% EV sales by 2025. That said, new EV-only models such as the EX30, EX90 and EM90 should be going strong into 2024, plus the upcoming ES90 soon too.
For EVs, again Europe was by far the Swedish company’s best battle ground, registering 75,476 units (26% of market brand total). On the other hand, only 3,281 EVs were sold in China over the entire year – just 2% of Volvo’s tally over there – a shockingly poor showing in such an EV-forward market.
On the plug-in hybrid (PHEV) front, a total of 152,561 units were sold, a small increase of 10% over 2022. Combined with its EV sales, Volvo’s Recharge range accounts for 38% of its 2023 total.
As for model-specific performances, the XC60 SUV is still Volvo’s top seller (228,646 units sold in 2023, up 17% over 2022), followed by the XC40 (200,670 units, up 19%) and the ageing XC90 (107,549 units, up 11%). Sedan models saw increases too, with the S90 (49,283 units, up 15%) selling more than the S60 (40,153 units, up 2%).
Next up is the C40 EV (37,114 units, up 53%), followed by wagons/estates that suffered minor sales slumps, the V60 (30,438 units, down 5%) and V90 (14,224 units, down 4%). The brand new EX30 entered global markets right at the end of the year and registered just 639 units.
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Volvo on real good rolling times. Since geely bought over proton
huh what does geely buying over proton has to do with the sales of volvo around the world.