RICHMOND HILL, ON (Feb. 5, 2024) – Strong momentum continues in February for Volvo Car Canada, reporting sales of 854 vehicles in February, up 6.5 percent over the same period last year.
Recharge models – those with a fully electric or plug-in hybrid powertrain – accounted for 45.9 percent in February, an increase of 10.7 percent year over year. Fully electric cars accounted for 18.1 percent of total sales.
During the month of February, the XC40 small luxury SUV was the top selling model accounting for 33 percent of overall sales, followed by the XC60 compact luxury SUV (32 percent), and the XC90 mid-size luxury SUV (18 percent).
“February results are bolstered by strong sales performance across our Recharge models, signaling positive momentum on our journey to being fully electric by 2030,” said Matt Girgis, Managing Director, Volvo Car Canada.
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About Volvo Car Canada Ltd.
Volvo Car Canada Ltd. is a subsidiary of Volvo Car Group of Gothenburg, Sweden. VCCL provides marketing, sales, parts, service, technology, and training support to the 37 Volvo automobile retailers across Canada. For more information, please refer to the Volvo Cars Canada media website at: www.media.volvocars.com/ca/en-ca
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 be a climate-neutral company 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).
