Volvo Cars reports new global sales record in 2023

Volvo Cars sets a new global sales record as the company reports full year sales of 708,716 cars during 2023, an increase of 15 per cent compared to the full year of 2022. 

The all-time-high sales record is a demonstration of Volvo Cars’ strong electrified product portfolio in combination with a more stabilised supply chain.

Volvo Cars also saw a significant increase in sales for its electrified cars. Last year, Volvo Cars sold 113,419 fully electric cars, an increase of 70 per cent compared to 2022, and 152,561 plug-in hybrid cars, which was a 10 per cent increase compared to 2022. Sales of fully electric cars accounted for 16 per cent of all Volvo cars sold globally during 2023.

For the month of December Volvo Cars sold 76,015 cars globally, an increase of 5 per cent compared to the same period in 2022.

European sales reached 294,794 cars during 2023, an increase of 19 per cent compared to 2022. Volvo Cars’ line-up of Recharge cars, with a fully electric or plug-in hybrid powertrain, accounted for 59 per cent of all the cars sold in the region last year.

Volvo Cars’ US sales for 2023 amounted to 128,701 cars, up 26 per cent compared to the full year of 2022. The number of sold Recharge cars increased by 28 per cent and accounted for 28 per cent of all cars sold in the US during the year.

Sales in China grew 5 per cent compared to 2022, resulting in 170,091 sold cars during 2023. Overall, sales of Recharge cars grew 26 per cent during the January to December period.

For 2023 the Volvo XC60 was the top-selling model with sales reaching 228,646 cars (2022: 195,338 cars), followed by the XC40, with total sales of 200,670 cars (2022: 169,206 cars), and XC90 at 107,549 cars (2022: 97,130 cars).