Jun 05, 2023 Volvo Cars reports global sales of 60,398 cars in May, up 31 per cent compared with the same month last year. The company’s fully electric cars were the main contributor to the growth rising 196 per cent during the period. Furthermore, figures from May 2022 were negatively affected by lower production due to last year’s supply chain constraints.
For the first five months of the year, Volvo Cars sales reached 275,312 cars, up 14 per cent compared to the same period during 2022.
Sales of Volvo Cars´ Recharge models of fully electric and plug-in hybrid cars increased by 55 per cent in May, accounting for 40 per cent of all Volvo cars sold globally during the month. The share of fully electric cars stood at 18 per cent.
Sales in Europe for May reached 26,272 cars, an increase of 40 per cent compared to last year. The share of Recharge models reached 63 per cent of overall sales in the region and the share of fully electric cars ended up at 29 per cent.
US sales grew by 14 per cent in May 10,723 cars. The share of Recharge models reached 28 per cent of overall sales and sales of fully electric cars increased by 66 per cent compared to last year.
In China sales reached 14,121 cars, an increase of 49 per cent compared to the same month last year. Sales of Volvo Cars’ Recharge models grew 116 per cent, accounting for 8 per cent of the total sales in China.
In May, the Volvo XC60 was the top-selling model with sales of 18,052 cars (2022: 15,117 units), followed by the XC40, with total sales at 17,596 cars (2022: 12,097 units) and the XC90 at 9,058 cars (2022: 8,790 units).
| 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% |
Volvo Cars in 2022
For the full year 2022, Volvo Car Group recorded an operating profit of SEK 22.3 billion. Revenue in 2022 amounted to SEK 330.1 billion, while global sales reached 615,121 cars.
