Volvo Cars sales up 18 per cent in August

Volvo Cars reports global sales of 51,636 cars in August, up 18 per cent compared to the same month last year, as Europe and the US both reported increasing sales.

So far Volvo Cars has sold 447,492 cars during 2023, an increase of 18 per cent compared to the same period for 2022. 

The company’s line of Recharge models, with a fully electric or plug-in hybrid powertrain, represented 33 per cent of all global sales in August, with fully electric vehicles accounting for 13 per cent of all sales. Compared to the same period last year, sales of Recharge cars increased by 78 per cent.

Volvo Cars sales in Europe increased by 46 per cent to 16,051 cars. The share of Recharge models accounted for 63 per cent of all sales in the region. The share of fully electric car stood at 26 per cent.

Sales in the US amounted to 10,644 cars in August, up 31 per cent compared to last year. The company also sold 2673 Recharge cars in the US during this period, an increase of 94 per cent compared to last year, resulting in a share of 25 per cent of the overall sales.

For China, Volvo Cars’ sales declined during August by 8 per cent to 15,760 cars. For the January-August period, sales in China reached 108,468 cars, up 5 per cent compared to the same period last year.

Globally, the XC60 continues to be the best-selling model for the company, retailing 16,476 cars in August (2022: 16,161), followed by the XC40 with total sales of 13,942 cars (2022: 9,766), and the Volvo XC90 with 8,319 cars sold (2022: 7,678).

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Volvo Cars in 2022 
For the full year 2022, Volvo Car Group recorded an operating profit of SEK 22.3 billion. Revenue in 2022 amounted to SEK 330.1 billion, while global sales reached 615,121 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 2022, Volvo Cars employed approximately 43,200 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).