Volvo’s EV sales grows 31% in January

Volvo Cars started its electrified mobility campaign this year with a strong jolt as the company's electric vehicle (EV) sales went up by 31 percent compared to the figures achieved in the same time period last year.

Further, the Gothenburg-based carmaker said that its January 2023 EV and plug-in hybrid electric vehicle sales accounted for 40.7 percent of all Volvo cars sold globally during the said month.

In total, the Swedish automotive brand  sold 48,520 units in January.

The best-selling model for the month was the Volvo XC60, which contributed 16,016 units to the brand’s global vehicle sales. It was followed by the Volvo XC40 with total sales at 14,038 cars and the Volvo XC90 at 7,438 cars.

Per Volvo, the XC60 sold 14,516 units in 2022; the XC40 at 12,286 units; and the XC90 at 7,243 units in the same year. This shows that the demand for the aforementioned vehicles continues to grow.

Volvo Cars reported that its best market to date is Europe. Here, the automotive marque sold 21,436 cars in January, reflecting a 14.7 percent increase compared with the same period last year. The increase, Volvo explained, was led by markets such as the United Kingdom, Italy, and Belgium. Recharge sales, which in addition to fully electric cars also include plug-in hybrids, accounted for 59.8 percent of the total sales in the region during the month.

The United States market, Volvo said, also showed positive growth. Volvo Cars’ sales in the region reached 7,693 cars, up 8.2 percent compared with January last year. The share of Recharge models accounted for 30.8 percent of the total sales for the month.

Meanwhile, Volvo saw a decline in its sales in the Chinese market. According to the carmaker, its sales declined by 19.5 percent to 11,783 cars in January due to the timing of the Chinese New Year. The share of Recharge cars reached 10.7 percent.

Photos from Volvo

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