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Volvo units new world gross sales document in 2023 – 708,718 items, up 15% vs 2022; EV share now at simply 16%

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Volvo sets new global sales record in 2023 – 708,718 units, up 15% vs 2022; EV share now at just 16%

Volvo vehicles has set its new world gross sales document in 2023 with 708,718 items bought, up 15% from the 615,121 items registered in 2022. Europe stays its strongest market with 294,794 items (+19% vs 2022), adopted by China at 170,091 items (+5%). Nevertheless, the US noticed Volvo’s largest improve with 128,701 items bought, a big 26% soar from the yr earlier than. Different markets accounted for 115,130 items, up 11%.

Now comes the juicy half: a complete of 113,419 Volvo EVs was bought within the full yr. Whereas that may be a wholesome 70% improve over 2022, it makes up simply 16% of the overall gross sales tally – nicely in need of Volvo’s beforehand introduced goal of getting 50% EV gross sales by 2025. That mentioned, new EV-only fashions such because the EX30, EX90 and EM90 needs to be going robust into 2024, plus the upcoming ES90 quickly too.

For EVs, once more Europe was by far the Swedish firm’s finest battle floor, registering 75,476 items (26% of market model complete). Alternatively, solely 3,281 EVs had been bought in China over your complete yr – simply 2% of Volvo’s tally over there – a surprisingly poor exhibiting in such an EV-forward market.

Volvo sets new global sales record in 2023 – 708,718 units, up 15% vs 2022; EV share now at just 16%

On the plug-in hybrid (PHEV) entrance, a complete of 152,561 items had been bought, a small improve of 10% over 2022. Mixed with its EV gross sales, Volvo’s Recharge vary accounts for 38% of its 2023 complete.

As for model-specific performances, the XC60 SUV continues to be Volvo’s prime vendor (228,646 items bought in 2023, up 17% over 2022), adopted by the XC40 (200,670 items, up 19%) and the ageing XC90 (107,549 items, up 11%). Sedan fashions noticed will increase too, with the S90 (49,283 items, up 15%) promoting greater than the S60 (40,153 items, up 2%).

Subsequent up is the C40 EV (37,114 items, up 53%), adopted by wagons/estates that suffered minor gross sales slumps, the V60 (30,438 items, down 5%) and V90 (14,224 items, down 4%). The model new EX30 entered world markets proper on the finish of the yr and registered simply 639 items.

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