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.
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
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 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 will soon release the newest BEVs, which could increase sales. The Volvo EX90, an electric replacement for the Volvo XC90, is first in line.
Volvo Cars detailed sales results:
| October | 2022 | 2021 | January-October Change | 2022 | 2021 | Change |
| Europe Recharge- Plug-in hybrid- Fully electric | 22,03014,287 8,115 6,172 | 22,12410,369 8,712 1,657 | -0.4% 37.8% -6.9% 272.5% | 188,04695,601 68,855 26,746 | 242,495 102,375 90,836 11,539 | -22.5% -6.6% -24.2% 131.8% |
| ChinaRecharge – Plug-in hybrid – Fully electric | 15,048 917 837 80 | 11,006 1,230 1,142 88 | 36.7% -25.4% -26.7% -9.1% | 132,792 9,168 7,143 2,025 | 143,616 8,394 7,844 550 | -7.5% 9.2% -8.9% 268.2% |
| US Recharge- Plug-in hybrid – Fully electric | 9,4782,528 1,693 835 | 8,701 2,102 1,295 807 | 8.9%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 electric | 7,761 2,265 1,204 1,061 | 8,984 2,285 1,996 289 | -13.6% -0.9% -39.7% 267.1% | 80,772 21,860 15,214 6,646 | 91,287 19,168 18,217 951 | -11.5% 14.0% -16.5% 598.8% |
| Total Recharge – Plug-in hybrid – Fully electric | 54,317 19,997 11,849 8,148 | 50,815 15,986 13,145 2,841 | 6.9% 25.1% -9.9% 186.8% | 483,304148,572108,055 40,517 | 581,464148,068129,803 18,265 | -16.9% 0.3% -16.8% 121.8% |
