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Volvo Cars’ global sales up 3 per cent in August

Itumeleng Garebatshabe
Last updated: September 9, 2024 12:16
By Itumeleng Garebatshabe
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Volvo Cars reported global sales of 52,944 cars in August, up 3 per cent compared to the same period last year. The sales increase was primarily driven by the strong performance of our fully electric cars in Europe, while the Chinese market was more challenging. 

The company’s sales of electrified models, fully electric and plug-in hybrid models, grew 47 per cent compared to the same period last year and accounted for 47 per cent of all cars sold during August. The share of fully electric cars constituted 25 per cent of all cars sold for the month. 

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The total sales for the period of January through August amounted to 498,464 cars globally, an increase of 11 per cent compared to the same period 2023.

“It is good to see that we were able to close out August with continued sales growth. We have a robust brand, and we continue to see solid consumer interest across our lineup,” said Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars. “The performance in Europe was particularly encouraging, as the sales of our EVs continue to grow at a rapid pace, with the EX30 leading the way.”

In Europe, sales reached 21,119 cars in August, up 32 per cent compared to the same period last year. The sales of Volvo Cars’ electrified models increased by 52 per cent compared to the same period last year, and the share of electrified models accounted for 73 per cent of all cars sold in Europe during August.

Sales in the US decreased 2 per cent in August, totaling 10,420 cars. However, sales of plug-in hybrid models increased 84 per cent compared to the same period last year.

Volvo Cars’ sales in China reached 12,185 cars, down 23 per cent compared to August 2023. Sales of electrified models – fully electric and plug-in hybrid models – stood at 1,233 sold cars, an increase of 10 per cent compared to the same period last year.

In August, the Volvo XC60 was the top-selling model with sales of 14,723 cars (2023: 16,476), followed by the XC40/EX40, with total sales of 10,668 cars (2023: 13,942) and the EX30 at 8,346 cars (2023: 0).

 AugustAugust Jan-AugJan-Aug 
 20242023Change20242023Change
       
Europe21 11916 05132%243 143183 28033%
Electrified Models15 49410 18252%157 931111 72741%
 – Fully electric9 9804 216137%91 70046 54597%
 – Plug-in hybrid5 5145 966-8%66 23165 1822%
Mild hybrids/ICE5 6255 869-4%85 21271 55319%
       
China12 18515 760-23%100 122108 468-8%
Electrified models1 2331 12510%8 6199 860-13%
 – Fully electric23620018%2 7022 25420%
 – Plug-in hybrid9979258%5 9177 606-22%
Mild hybrids/ICE10 95214 635-25%91 50398 608-7%
       
US10 42010 644-2%81 02981 1790%
Electrified models3 9332 67347%26 34623 29413%
 – Fully electric588859-32%3 0899 717-68%
 – Plug-in hybrid3 3451 81484%23 25713 57771%
Mild hybrids/ICE6 4877 971-19%54 68357 885-6%
       
Other9 2209 1810%74 17074 565-1%
Electrified models4 3683 02544%33 67927 24424%
 – Fully electric2 6141 38589%20 81712 90861%
 – Plug-in hybrid1 7541 6407%12 86214 336-10%
Mild hybrids/ICE4 8526 156-21%40 49147 321-14%
       
Total52 94451 6363%498 464447 49211%
Electrified models25 02817 00547%226 575172 12532%
 – Fully electric13 4186 660101%118 30871 42466%
 – Plug-in hybrid11 61010 34512%108 267100 7018%
Mild hybrids/ICE27 91634 631-19%271 889275 367-1%

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.

TAGGED:global salesVolvo Cars

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