Volvo Cars' global sales up 8 per cent in June
The company's sales of electrified models, fully electric and plug-in hybrid models, grew 41 per cent compared to the same period last year and accounted for 48 per cent of all cars sold during June. The share of fully electric cars constituted 26 per cent of all cars sold for the month.
The total sales for the period of January through June amounted to 388,073 cars globally, an increase of 14 per cent compared to the same period 2023.
“As June comes to a close, the sales figures for the month are proof of the successful steps we have taken toward our long-term strategic direction and the continued demand for our cars,” said Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars. “I am particularly pleased by the continued strong sales performance of the EX30.”
In Europe, sales reached 36,474 cars in June, up 34 per cent compared to the same period last year. The sales of Volvo Cars' electrified models increased by 54 per cent compared to the same period last year, and the share of electrified models accounted for 66 per cent of all cars sold in Europe during June.
Volvo Cars Belgium continues its momentum, in June, Volvo registered 2.444 vehicles, which represents a market share of 4.92% and a growth of 13% compared to June 2023. Overall, Volvo Cars Belgium has sold 15.668 cars this year for a market share of 5.95% and a growth of 33%, these figures keep Volvo on the 5th place in the ranking of the best sold brands in Belgium.
Sales in the US decreased 28 percent in June, totaling 9,304 cars. However, sales of plug-in hybrid models went up 75 percent compared to the same period last year. The decline in US sales was partly due to widespread IT-related disturbances that beset thousands of dealerships across the industry during the month of June, forcing a halt to normal operations.
Volvo Cars' sales in China reached 14,049 cars, down 9 cent compared to June 2023. Sales of electrified models – fully electric and plug-in hybrid models - stood at 1,448 sold cars, an increase of 12 per cent compared to the same period last year.
In June, the Volvo XC60 was the top-selling model with sales of 19,222 cars (2023: 21,053), followed by the XC40/EX40, with total sales of 16,195 cars (2023: 18,170) and the EX30 at 12,513 cars (2023: 0).
| June | June | Jan-Jun | Jan-Jun | |||
| 2024 | 2023 | Change | 2024 | 2023 | Change | |
| Europe | 36 474 | 27 196 | 34% | 193 634 | 146 943 | 32% |
| Electrified Models | 24 156 | 15 708 | 54% | 123 955 | 90 260 | 37% |
| - Fully electric | 14 016 | 5 487 | 155% | 71 406 | 39 617 | 80% |
| - Plug-in hybrid | 10 140 | 10 221 | -1% | 52 549 | 50 643 | 4% |
| Mild hybrids/ICE | 12 318 | 11 488 | 7% | 69 679 | 56 683 | 23% |
| China | 14 049 | 15 405 | -9% | 78 162 | 78 526 | 0% |
| Electrified models | 1 448 | 1 294 | 12% | 6 256 | 7 565 | -17% |
| - Fully electric | 411 | 270 | 52% | 2 168 | 1 801 | 20% |
| - Plug-in hybrid | 1 037 | 1 024 | 1% | 4 088 | 5 764 | -29% |
| Mild hybrids/ICE | 12 601 | 14 111 | -11% | 71 906 | 70 961 | 1% |
| US | 9 304 | 12 933 | -28% | 61 012 | 59 750 | 2% |
| Electrified models | 3 315 | 3 793 | -13% | 18 651 | 17 489 | 7% |
| - Fully electric | 386 | 2 123 | -82% | 1 981 | 7 603 | -74% |
| - Plug-in hybrid | 2 929 | 1 670 | 75% | 16 670 | 9 886 | 69% |
| Mild hybrids/ICE | 5 989 | 9 140 | -34% | 42 361 | 42 261 | 0% |
| Other | 11 687 | 10 845 | 8% | 55 265 | 56 472 | -2% |
| Electrified models | 5 463 | 3 625 | 51% | 24 806 | 21 104 | 18% |
| - Fully electric | 3 622 | 1 655 | 119% | 15 205 | 10 239 | 49% |
| - Plug-in hybrid | 1 841 | 1 970 | -7% | 9 601 | 10 865 | -12% |
| Mild hybrids/ICE | 6 224 | 7 220 | -14% | 30 459 | 35 368 | -14% |
| Total | 71 514 | 66 379 | 8% | 388 073 | 341 691 | 14% |
| Electrified models | 34 382 | 24 420 | 41% | 173 668 | 136 418 | 27% |
| - Fully electric | 18 435 | 9 535 | 93% | 90 760 | 59 260 | 53% |
| - Plug-in hybrid | 15 947 | 14 885 | 7% | 82 908 | 77 158 | 7% |
| Mild hybrids/ICE | 37 132 | 41 959 | -12% | 214 405 | 205 273 | 4% |
***
Volvo Cars in 2023
For the full year 2023, Volvo Car Group recorded a record-breaking core operating profit of SEK 25.6 billion. Revenue in 2023 amounted to an all-time high of SEK 399.3 billion, while global sales reached a record 708,716 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 achieve net-zero greenhouse gas emissions by 2040.
As of December 2023, Volvo Cars employed approximately 43,400 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 and Shanghai (China).
For further information please contact:
Volvo Cars Media Relations
+46 31-59 65 25
media@volvocars.com