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Volvo Car Canada reports record sales of electrified vehicles in March

  • Volvo Car Canada overall sales up 21.7 percent
  • Electrified models (PHEV & EV) represent 50 percent of sales
  • Record sales of XC60, up 49.8 percent


RICHMOND HILL, ON
(Mar. 4, 2024) – Volvo Car Canada reports double digit growth for the month of March, with sales of 1,179 vehicles, up 21.7 percent over the same period last year. For the quarter, the company sold 2,626 vehicles, up 5 percent.

The company reported sales of 589 Electrified vehicles (those with a fully electric or plug-in hybrid powertrain) up 131 percent, representing the most electrified vehicles sold in a single month.  Electrified models accounted for 50 percent of total sales. 

During the month of March, the XC60 compact luxury SUV was the top selling model accounting for 39 percent of overall sales, this led by record XC60 Recharge sales, up 669 percent.

“March results signal strong continued demand of our Electrified models,” said Matt Girgis, Managing Director, Volvo Car Canada. “This momentum brings a strong close to the quarter and sets us on solid ground as we approach the Spring.”

 

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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 achieve net-zero greenhouse gas emissions 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).

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