Volvo Cars Global Sales up 31% In May; Fully Electric Cars up 196%

Volvo Cars reported global sales of 60,398 cars in May, up 31% compared with the same month last year. The company’s fully electric cars were the main contributor to the growth, rising 196% during the period to 10,826 units (). 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% compared to the same period during 2022.

Sales of Volvo Cars´ Recharge models of fully electric and plug-in hybrid cars increased by 55% in May, accounting for 40% of all Volvo cars sold globally during the month. The share of fully electric cars stood at 18%.

Sales in Europe for May reached 26,272 cars, an increase of 40% compared to last year. The share of Recharge models reached 63% of overall sales in the region and the share of fully electric cars ended up at 29%.

US sales grew by 14% in May to 10,723 cars. The share of Recharge models reached 28% of overall sales and sales of fully electric cars increased by 66% compared to last year to a 12.5% share.

In China sales reached 14,121 cars, an increase of 49% compared to the same month last year. Sales of Volvo Cars’ Recharge models grew 116%, accounting for 8% of the total sales in China; fully electric sales represented a 1.9% share.

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).