Volvo Cars reports global sales of 51,286 in February
Volvo Cars report sales of 51,286 cars in February, up 22 per cent compared to the same month last year and a record for the month of February. The sales growth was led by the company’s Recharge line up of fully electric and plug-in hybrid cars.
Sales of Volvo Cars’ Recharge models made up 40 per cent of all Volvo cars sold globally during the month. The company’s fully electric car sales increased by 187 per cent compared with the same month last year and comprised 19 per cent of the total sales in February.
The US reported a solid performance with sales 38 per cent higher than February last year to 8,560 cars sold. The increase was led by Volvo’s SUV range but also due to sales in February last year were negatively affected by lower production on the back of supply chain constraints. The share of Recharge cars reached 29 per cent during the month.
China sales reached 13,066 cars, up 50 per cent compared with February last year. The strong growth was partially due to the timing of the Lunar New Year that affected sales in February 2022. Recharge models accounted for 9 per cent of the total sales for the month.
European sales for February reached 21,278 cars, up 9 per cent compared with the same period last year. The share of Recharge cars reached 64 per cent.
In February, Volvo’s XC60 was the top selling model with sales reaching 16,088 cars (2022: 13,503), followed by the XC40, with total sales at 15,398 cars (2022: 12,611 units), and XC90 at 7,114 cars (2022: 5,582 units).
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| January- February | ||||||
| 2023 | 2022 | Change |
| 2023 | 2022 | Change | |
| Europe | 21,278 | 19,512 | 9% |
| 42,714 | 38,203 | 12% |
| Recharge | 13,698 | 9,894 | 38% | 26,518 | 19,820 | 34% | |
| - Plug-in hybrid | 6,983 | 7,684 | -9% | 14,466 | 15,624 | -7% | |
| - Fully electric | 6,715 | 2,210 | 204% | 12,052 | 4,196 | 187% | |
| China | 13,066 | 8,691 | 50% |
| 24,849 | 23,320 | 7% |
| Recharge | 1130 | 682 | 66% | 2,388 | 1,829 | 31% | |
| - Plug-in hybrid | 958 | 618 | 55% | 1,897 | 1,657 | 15% | |
| - Fully electric | 172 | 64 | 167% | 491 | 172 | 186% | |
| US | 8,560 | 6,219 | 38% |
| 16,253 | 13,329 | 22% |
| Recharge | 2,436 | 1,680 | 45% | 4,806 | 3,588 | 34% | |
| - Plug-in hybrid | 1,463 | 1,124 | 30% | 3,062 | 2,604 | 18% | |
| - Fully electric | 973 | 556 | 75% | 1744 | 984 | 77% | |
| Other | 8,382 | 7,645 | 10% |
| 15,990 | 14,776 | 8% |
| Recharge | 3,414 | 1,609 | 112% | 6,708 | 3,699 | 81% | |
| - Plug-in hybrid | 1,700 | 1,101 | 54% | 3,547 | 2,586 | 37% | |
| - Fully electric | 1714 | 508 | 237% | 3,161 | 1,113 | 184% | |
| Total | 51,286 | 42,067 | 22% |
| 99,806 | 89,628 | 11% |
| Recharge | 20,678 | 13,865 | 49% | 40,420 | 28,936 | 40% | |
| - Plug-in hybrid | 11,104 | 10,527 | 6% | 22,972 | 22,471 | 2% | |
| - Fully electric | 9,574 | 3,338 | 187% | 17,448 | 6,465 | 170% |
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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.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.
Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This is reflected in its ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.
As of December 2022, Volvo Cars employed approximately 43,200 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg, Camarillo (US) and Shanghai (China).