Volvo Global Sales Up 10 Percent In October 2023, Electricity Version Also Increases

Volvo XC60 Recharge T8. (Doc. Volvo Cars)

Volvo again recorded brilliant achievements in its vehicle sales during October 2023. According to official data released by the company on Friday, November 3, the number of electric car sales (EV) reached 59,861 units in that period, an increase of 10 percent. This sales growth was mainly triggered by the extraordinary performance of the company's EV variant.

Based on information disclosed on the company's official website, November 3, the 'Recharge' variant, which is included in the EV and plug-in hybrid (PHEV) categories, managed to account for about 36 percent of total global sales that month. Sales of electric cars increased significantly by 29 percent compared to the previous year, reaching 10,489 units. Meanwhile, sales of the PHEV variant reached 10,854 units, a decrease of 8 percent when compared to the previous year.

In the European market, the Swedish automaker managed to record an increase in sales of 13 percent from the previous year, with a total of 24,892 units sold over the same period. Sales of 'Recharge' cars account for about 55 percent of total sales in the region.

Meanwhile, in the Chinese market, Volvo Cars maintained sales figures of 15,041 units, without experiencing significant changes compared to the previous year. However, sales of the 'Recharge' variant increased by 27 percent by reaching 1,166 units.

Positive achievements can also be seen from sales in the United States, which reached 11,296 units, an increase of 19 percent. Sales of electric vehicles such as EVs and PHEV also increased by 20 percent, reaching 3,041 units.

For other markets, Volvo Cars managed to record sales of 8,632 units, of which 3,473 units were Recharge variants. The EV segment accounted for 2,003 vehicles, an increase of 89 percent from the previous year, while PHEV sales reached 1,470 units, an increase of 22 percent.

In October 2023, the XC60 model became the best-selling model with total sales reaching 20,212 units, an increase from 17,531 units in the previous year. This result was followed by XC40 which managed to record total sales of 17,022 vehicles, up from 14,883 units in the previous year, and XC90 with 7,961 units sold from 7,651 units in the previous year.

In the period January to October 2023, Volvo has successfully sold 569,019 vehicles, recording an increase of 18 percent compared to the same period in the previous year.