Volvo Cars celebrated a notable milestone in July, achieving global sales of 57,447 units, marking a 6 percent increase compared to the same period last year. This boost was largely fueled by the burgeoning demand for their fully electric vehicles in Europe.
The automaker reported a remarkable 49 percent surge in sales of electrified models, which encompass both fully electric and plug-in hybrid vehicles. These models represented nearly half (49 percent) of all Volvo cars sold in July, with fully electric cars making up 25 percent of the monthly sales.
From January to July, Volvo’s global sales reached 445,520 units, reflecting a 13 percent increase over the same period in 2023.
“We are pleased to report another month of sales growth, which is driven largely by the sales in Europe despite a generally challenging market environment,” said Björn Annwall, Chief Commercial Officer and Deputy CEO at Volvo Cars.
In Europe, Volvo saw a robust 40 percent increase in sales, totaling 28,390 units for July. Electrified models dominated the market, with a 64 percent year-over-year increase, accounting for 65 percent of all cars sold in the region.
Conversely, sales in the United States experienced an 11 percent decline, with a total of 9,597 cars sold. Despite this downturn, the sales of plug-in hybrid models skyrocketed by 73 percent compared to the previous year.
China presented a mixed picture, with overall sales dropping 31 percent to 9,775 units. However, the sales of electrified models – both fully electric and plug-in hybrids – saw a minor decrease of just 3 percent, totaling 1,130 units.
Among Volvo’s top-performing models in July, the XC60 led the pack with 15,577 units sold, followed by the XC40/EX40 with 13,818 units, and the newly introduced EX30, which sold 9,201 units in its debut year.
Volvo Cars’ continued success in the electrified vehicle segment highlights the brand’s commitment to sustainable mobility and its growing influence in the global automotive market.
| July | July | Jan-Jul | Jan-Jul | |||
| 2024 | 2023 | Change | 2024 | 2023 | Change | |
| Europe | 28 390 | 20 286 | 40% | 222 024 | 167 229 | 33% |
| Electrified Models | 18 482 | 11 285 | 64% | 142 437 | 101 545 | 40% |
| – Fully electric | 10 314 | 2 712 | 280% | 81 720 | 42 329 | 93% |
| – Plug-in hybrid | 8 168 | 8 573 | -5% | 60 717 | 59 216 | 3% |
| Mild hybrids/ICE | 9 908 | 9 001 | 10% | 79 587 | 65 684 | 21% |
| China | 9 775 | 14 182 | -31% | 87 937 | 92 708 | -5% |
| Electrified models | 1 130 | 1 170 | -3% | 7 386 | 8 735 | -15% |
| – Fully electric | 298 | 253 | 18% | 2 466 | 2 054 | 20% |
| – Plug-in hybrid | 832 | 917 | -9% | 4 920 | 6 681 | -26% |
| Mild hybrids/ICE | 8 645 | 13 012 | -34% | 80 551 | 83 973 | -4% |
| US | 9 597 | 10 785 | -11% | 70 609 | 70 535 | 0% |
| Electrified models | 3 762 | 3 132 | 20% | 22 413 | 20 621 | 9% |
| – Fully electric | 520 | 1 255 | -59% | 2 501 | 8 858 | -72% |
| – Plug-in hybrid | 3 242 | 1 877 | 73% | 19 912 | 11 763 | 69% |
| Mild hybrids/ICE | 5 835 | 7 653 | -24% | 48 196 | 49 914 | -3% |
| Other | 9 685 | 8 912 | 9% | 64 950 | 65 384 | -1% |
| Electrified models | 4 505 | 3 115 | 45% | 29 311 | 24 219 | 21% |
| – Fully electric | 2 998 | 1 284 | 133% | 18 203 | 11 523 | 58% |
| – Plug-in hybrid | 1 507 | 1 831 | -18% | 11 108 | 12 696 | -13% |
| Mild hybrids/ICE | 5 180 | 5 797 | -11% | 35 639 | 41 165 | -13% |
| Total | 57 447 | 54 165 | 6% | 445 520 | 395 856 | 13% |
| Electrified models | 27 879 | 18 702 | 49% | 201 547 | 155 120 | 30% |
| – Fully electric | 14 130 | 5 504 | 157% | 104 890 | 64 764 | 62% |
| – Plug-in hybrid | 13 749 | 13 198 | 4% | 96 657 | 90 356 | 7% |
| Mild hybrids/ICE | 29 568 | 35 463 | -17% | 243 973 | 240 736 | 1% |
