Record sales in FY22 for Volvo Car Australia, FY23 off to strong start

Volvo Car Australia has recorded its best ever year for new sales in the 2022 financial year, selling more than 9,300 units.

The result, a powerful validation of Volvo’s showroom of vehicles, puts the company on track to soon eclipse 10,000 units sold over a 12-month period for the first time.

Despite global supply chain disruption, Volvo ended the 2021 calendar year as the fastest growing luxury car brand in Australia, growing by 17.5 per cent. The luxury car segment, meanwhile, grew by just 2.4 per cent over the same time.

"To have achieved a 17.5 per cent increase in a year hampered by a number of constraints is a fantastic result for Volvo Cars,” Volvo Car Australia Managing Director Stephen Connor said earlier this year.

“Having secured a minimum of 20 per cent production growth for 2022 things for Volvo Cars will only continue to get better. But I am determined for and confident of further growth and will continue to push for even more production to meet the demand of our brand."

After breaking its own records consecutively in May and June, with 1,121 and 1,174 monthly sales, Volvo sold 647 cars in July in Australia, but that is expected to ramp up as the financial year progresses.

There are six models on Volvo’s 2023 slate, including the new XC90 Recharge and Volvo Cars’ first electric-only vehicle, the C40 Recharge. Last month, I Roll took a look at the 2023 Model Year line-up.

Globally, Volvo reported 44,664 sales in July, with robust demand for the Recharge range of pure electric and plug-in hybrid cars.

Recharge vehicles accounted for 21.5 per cent of global sales in July, while fully electric cars stood at 3.5 per cent. For the full 2022 calendar year, the company’s target is to have fully electric sales reach a double digit share.

Production is expected to progressively increase in the coming months.