Volvo Cars sales up 21 per cent in July

Volvo Cars reports global sales of 54,165 cars in July, up 21 per cent compared with the same month last year. This was the eleventh consecutive month of growth year-over-year.

In the first seven months of 2023, the company sold 395,856 cars globally, up 18 per cent compared with the same period last year. 

Volvo Cars’ Recharge line-up of chargeable models, with a fully electric or plug-in hybrid powertrain, almost doubled compared to July last year. Recharge models accounted for 35 per cent of all Volvo cars sold globally during the month. The share of fully electric cars was 10 per cent.

Sales in Europe reached 20,286 cars, up 28 per cent compared to last year. The share of Recharge models reached 56 per cent of all sales in the region. The share of fully electric car stood at 13 per cent.

NEW RECORD in July:

Volvo Cars Belgium continues its momentum, in July, Volvo climbed on the 6^th place in the ranking and registered 1745 vehicles, which represents a market share of 5.03% and a growth of 150% compared to July 2022 which is an All Time High.

Half of our cars were sold in Pure Electric, and the Recharge share (plugin Hybrids included) reached 87%.

With 13540 registrations this year, Volvo Cars Belgium registers a market share of 4.53% and thus strengthens its 9^th place in the Belgian market with a cumulative growth of 72% compared to 2022.

Volvo Cars’ sales in the US increased by 57 per cent to 10,785 cars in July. The number of Recharge cars grew by 226 per cent compared to last year and of all cars sold in Volvo Cars’ second biggest market, 29 per cent was a Recharge model. 

Sales in China reached 14,182 cars, a decrease of 8 per cent compared to the same month last year. The share of Recharge models accounted for 8 per cent of the total sales in China.

In July, the Volvo XC60 was the top-selling model with sales of 18,259 cars (2022: 16,261 units), followed by the XC40, with total sales at 14,594 cars (2022: 10,640 units) and the XC90 at 8,640 cars (2022: 7,764 units).

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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". 

"For life. To give people the freedom to move in a personal, sustainable and safe way." This purpose is reflected in Volvo Cars' 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).