Swedish automaker Volvo enjoyed increasing electric vehicle sales worldwide, officially crossing the 15% share milestone of its overall volume in September.
For reference, its overall vehicle sales grew 25% year-on-year to 61,666 units last month. Year to date, it sold 509,158 vehicles (up 19% YoY), as per the press release.
EV sales results – September 2023
Volvo’s battery electric vehicle (BEV) sales reportedly grew 52% YoY to 9,205 units worldwide last month. It represented 15% of the automaker’s overall vehicle sales.
In the US alone, Volvo’s EV sales surged by an astounding 631% in the same period. Likewise, its sales significantly increased in Europe (+23%), China (+23%), and other markets (+155%).
This year to date, its total EV sales have reached 80,600+ units, up 149% YoY. It is also worth noting that all recharge models, including plug-in hybrids and all-electrics, expanded 37% YoY last month, reaching a 34% volume share.
Presented below are the full details of Volvo’s electric vehicle sales through September 2023:
| September 2023 | September 2022 | Change | Jan-Sept 2023 | Jan-Sept 2022 | Change | |
| Europe | 25,489 | 19,358 | 32% | 208,769 | 166,016 | 26% |
| Recharge | 13,599 | 11,201 | 21% | 125,326 | 81,314 | 54% |
| – Fully electric | 6,221 | 5,072 | 23% | 52,766 | 20,574 | 156% |
| – Plug-in hybrid | 7,378 | 6,129 | 20% | 72,560 | 60,740 | 19% |
| China | 15,460 | 14,845 | 4% | 123,928 | 117,744 | 5% |
| Recharge | 1,272 | 1,057 | 20% | 11,132 | 8,251 | 35% |
| – Fully electric | 277 | 225 | 23% | 2,531 | 1,945 | 30% |
| – Plug-in hybrid | 995 | 832 | 20% | 8,601 | 6,306 | 36% |
| US | 10,946 | 6,627 | 65% | 92,125 | 72,216 | 28% |
| Recharge | 3,052 | 1,169 | 161% | 26,346 | 19,415 | 36% |
| – Fully electric | 1,126 | 154 | 631% | 10,843 | 4,265 | 154% |
| – Plug-in hybrid | 1,926 | 1,015 | 90% | 15,503 | 15,150 | 2% |
| Other | 9,771 | 8,526 | 15% | 84,336 | 73,011 | 16% |
| Recharge | 3,180 | 2,009 | 58% | 30,424 | 19,595 | 55% |
| – Fully electric | 1,581 | 621 | 155% | 14,489 | 5,585 | 159% |
| – Plug-in hybrid | 1,599 | 1,388 | 15% | 15,935 | 14,010 | 14% |
| Total | 61,666 | 49,356 | 25% | 509,158 | 428,987 | 19% |
| Recharge | 21,103 | 15,436 | 37% | 193,228 | 128,575 | 50% |
| – Fully electric | 9,205 | 6,072 | 52% | 80,629 | 32,369 | 149% |
| – Plug-in hybrid | 11,898 | 9,364 | 27% | 112,599 | 96,206 | 17% |
Volvo’s EV lineup
In hindsight, Volvo started its electric vehicle venture with the popular C40 Recharge and XC40 Recharge. Since then, the automaker has continued introducing more models to expand its lineup.
In November 2022, Volvo launched its flagship EX90 with a 300-mile driving range for a base price of sub-$80,000.
The debut of its cheapest and smallest e-SUV, the EX30, followed in early 2023. It will have a driving range of 275 miles for a starting price of $36,245, including destination fee.
Volvo has also previewed its first e-minivan, EX90, before its global debut on November 12.
Volvo to halt diesel-powered car production
Volvo officially announced plans at Climate Week NYC to end the production of its diesel-powered models as early as 2024, The Manila Times reported.
The move will advance Volvo’s position as the first legacy brand to fully transition to electric mobility. It is also part of the company’s efforts to hit carbon neutrality across its global operations by 2040.
According to the announcement, Volvo will release its last-ever diesel model in 2024.
See Also:
- Volvo taps StoreDot for high-speed battery tech
- Volvo to phase out diesel-powered models production in 2024
- Volvo receives 800+ Australian orders for the new EX30 e-SUV ahead of launch
- Volvo EX30 debuts in North America, revealing innovative features and technologies
- Polestar follows Volvo’s lead in adopting Tesla’s North American Charging Standard
Volvo aims to become an all-electric brand by 2030. Apart from that, it also set a target of having battery electric models account for 50% of its overall sales by 2025.
