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Reading: Volvo’s global plug-in car sales recovered to 20,000 in October 2022
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EV-a2z > News > Volvo’s global plug-in car sales recovered to 20,000 in October 2022
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Volvo’s global plug-in car sales recovered to 20,000 in October 2022

EV-a2zm
Last updated: 2022/11/18 at 11:31 AM
EV-a2zm Published November 7, 2022 4 Min Read
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Volvo car dealership, many cars parked outside showroom with Volvo logo above. Swedish vehicle manufacturer
Volvo car dealership, many cars parked outside showroom with Volvo logo above. Swedish vehicle manufacturer
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Volvo Cars reports a 6.9% YoY increase in global auto sales in October to 54,317 vehicles. After more than a year of a downturn, it is the Sweden-based automaker’s second straight good result, as per InsideEVs.

Contents
Volvo marketsVolvo Cars detailed sales results:

(Reuters) Volvo Cars' sales up 7% in October on "robust" underlying EV demand https://t.co/knLhTztxGq pic.twitter.com/Wwl4AQR1RH

— InfoseekChina (@InfoseekChina) November 4, 2022

However, this slight gain is insufficient to compensate for the sales lost earlier this year due to manufacturing limitations. Volvo has delivered 483,304 vehicles so far this year, a 16.9% decrease.

“Overall underlying demand for the company’s cars remains robust, especially for its Recharge range of pure electric and plug-in hybrid cars,” the company said in a statement.

The number of all-electric cars sold by Volvo increased by almost threefold to 8,148 YoY. Furthermore, it attained 15% of the overall sales for the first time. Given the impending release of a new BEV gen, that is a remarkable result. Despite a slight decline, plug-in hybrids still hold a market share of around one-fifth.

Volvo Recharge result:

  • BEVs: 8,148 (up 187%) and 15.0% share
  • PHEVs: 11,849 (down 10%) and 21.8% share
  • Total: 19,997 (up 25%) and 36.8% share

Volvo Recharge sales – October 2022

Volvo Recharge sales – October 2022
Source: https://t.co/kIv24wEVWE pic.twitter.com/sdSpONR9Zc

— EV Revolution (@EVRevolution_) November 7, 2022

Remarkably, Volvo has sold more than 148,000 plug-in electric vehicles this year to date, or about one-third of the total. On the other hand, it sold around 190,000 plug-in electric cars last year.

Volvo Recharge sales YTD:

  • BEVs: 40,517 (up 122%) and 8.4% share
  • PHEVs: 108,055 (down 17%) and 22.4% share
  • Total: 148,572 (up 0.3%) and 30.7% share

Volvo Recharge sales (global)
Source: https://t.co/kIv24wEVWE pic.twitter.com/GxVX5V4Lps

— EV Revolution (@EVRevolution_) November 7, 2022

Volvo markets

As soon as Volvo releases its next BEV generation, the sales of its plug-in vehicles, particularly all-electric ones, are likely to increase further. 

Notably, Europe was the primary market for Volvo electric vehicles. In fact, it sold 14,287 units in October and 95,601 year-to-date. Meanwhile, Sales in the US grew in October by 20% over the previous year to 2,528. (835 BEVs and 1,693 PHEVs).

Unfortunately, China reported a 25% drop to 917 units, which local COVID-19 lockdowns are most likely to blame for.

The Volvo C40 Recharge and the Volvo XC40 Recharge are the company’s two all-electric models. The automaker sold 3,106 C40s (new) and 5,042 electric XC40s in October, an increase of 78%. For the second consecutive month, both figures are record highs.

Volvo Cars introduces single-motor C40 Recharge, updates XC40 Recharge design pic.twitter.com/g3FRjXVDBb

— Electric Cars Report (@ECarsReport) March 4, 2022

Volvo will soon release the newest BEVs, which could increase sales. The Volvo EX90, an electric replacement for the Volvo XC90, is first in line.

Next week, on 9 November, we reveal our new fully electric flagship SUV – the EX90. This car represents a new era for Volvo Cars and a new era for safety. Today, we shared some insight into the design of the car and a few teaser images. Find out more here: https://t.co/TLgIDhYEIu pic.twitter.com/CqOVaX0xcr

— Tom Lynch (@ItsTomLynch) November 1, 2022

Volvo Cars detailed sales results:

October20222021January-October Change20222021Change
Europe Recharge- Plug-in hybrid- Fully electric22,03014,287 8,115 6,17222,12410,369 8,712  1,657-0.4% 37.8%  -6.9%  272.5%188,04695,601  68,855  26,746242,495 102,375  90,836  11,539-22.5% -6.6%  -24.2%  131.8%
ChinaRecharge – Plug-in hybrid – Fully electric15,048  917  837  8011,006 1,230 1,142  8836.7%  -25.4% -26.7%  -9.1%132,792  9,168  7,143  2,025143,616  8,394  7,844  550-7.5% 9.2%   -8.9%  268.2%
US Recharge- Plug-in hybrid – Fully electric9,4782,528 1,693  8358,701 2,102  1,295  8078.9%20.3%  30.7%  3.5%81,694 21,943  16,843 5,100 104,066 18,131  12,906  5,225-21.5% 21.0%  30.5%  -2.4%
Other Recharge- Plug-in hybrid – Fully electric7,761 2,265 1,204  1,0618,984 2,285 1,996  289-13.6% -0.9% -39.7%  267.1%80,772 21,860 15,214  6,64691,287 19,168 18,217 951-11.5% 14.0% -16.5%  598.8%
Total Recharge – Plug-in hybrid – Fully electric54,317 19,997 11,849  8,14850,815 15,986 13,145  2,8416.9% 25.1% -9.9%  186.8%483,304148,572108,055 40,517581,464148,068129,803 18,265-16.9% 0.3% -16.8%  121.8%

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TAGGED: BEV, Electric Vehicle, EV, PHEV, Volvo
EV-a2zm November 18, 2022 November 18, 2022
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