Volvo Cars reported global sales of 50,820 cars in January, down 5 per cent compared to the same period last year. While the sale of electrified models increased across all major markets, the decrease in total sales was largely due to the timing of the Chinese New Year.
The company’s sales of electrified models – both fully electric and plug-in hybrid cars – grew 17 per cent compared with the same period last year and accounted for 44 per cent of all cars sold during January. The share of fully electric cars constituted 19 per cent of all cars sold for the month.
In January, the XC60 was the top-selling model with sales of 18,972 cars (2024: 18,011), followed by the XC40/EX40 with total sales of 8,736 cars (2024: 12,628) and the XC90 at 7,473 cars (2024: 8,167).
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.
