Volvo Cars Reach 445,520 Unit Vehicles Sales

Volvo Cars reported a significant rise in global sales for July, reaching 57,447 units, marking a 6 percent increase compared to the same period last year. This growth was primarily fueled by robust sales of fully electric vehicles in Europe.

Sales of Volvo’s electrified models, which include both fully electric and plug-in hybrid vehicles, surged by 49 percent year-over-year. These electrified models accounted for 49 percent of all cars sold in July, with fully electric cars alone making up 25 percent of total sales for the month.

From January to July, Volvo Cars sold a total of 445,520 vehicles globally, representing a 13 percent increase compared to the same period in 2023. This consistent growth highlights Volvo’s successful strategy in the increasingly competitive automotive market.

Europe Leads the Charge

In Europe, Volvo Cars saw a remarkable 40 percent increase in sales for July, totaling 28,390 units. The demand for electrified models was particularly strong, with a 64 percent increase compared to last year. Electrified vehicles comprised 65 percent of all cars sold in Europe during July, underscoring the region’s shift towards greener mobility solutions.

Bijorn Annwall, chief commercial officer and deputy CEO at Volvo Cars, commented on the performance: “We are pleased to report another month of sales growth, driven largely by our performance in Europe despite a generally challenging market environment.”

Mixed Results in Other Markets

While Europe showed strong performance, sales in the US and China presented a more mixed picture. In the US, sales fell by 11 percent to 9,597 cars in July. However, plug-in hybrid models saw a significant increase of 73 percent, demonstrating a growing interest in electrified vehicles.

In China, Volvo Cars sales dropped by 31 percent to 9,775 cars. Electrified models, including fully electric and plug-in hybrids, saw a slight decrease of 3 percent compared to last year. This suggests challenges in the Chinese market, possibly due to economic factors or increased competition.

Best-Selling Models

The Volvo XC60 continued to be the top-selling model in July, with 15,577 units sold, despite a slight decrease from 18,259 units last year. Following closely were the XC40/EX40 models, with 13,818 units sold, and the EX30, which sold 9,201 units. These models reflect Volvo’s strong lineup in the SUV segment, which continues to be a significant driver of sales.

Detailed Sales Breakdown