Volvo cars all-electric sales climb to 19% of all sales in february

Volvo Cars reported global sales of 51,286 cars in February, up 22% compared to the same month last year and a record for the month of February. The sales growth was led by the company’s Recharge line up of fully electric and plug-in hybrid cars.

Sales of Volvo Cars’ Recharge models made up 40% of all Volvo cars sold globally during the month. The company’s fully electric car sales increased by 187% compared with the same month last year and represented 18.7% (9,574 units) of the total sales in February 2023. In February 2022, the share of all-electrics was only 8% (3,338 units out of 42,067).

The US reported a solid performance with sales 38% higher than February last year to 8,560 cars sold. The increase was led by Volvo’s SUV range but also due to sales in February last year were negatively affected by lower production on the back of supply chain constraints. The share of Recharge cars reached 29% during the month, with all-electrics accounting for 11.4% (973 units).

China sales reached 13,066 cars, up 50% compared with February last year. The strong growth was partially due to the timing of the Lunar New Year that affected sales in February 2022. Recharge models accounted for 9% of the total sales for the month; all-electric sales accounted for 1.3% (172 units).

European sales for February reached 21,278 cars, up 9% compared with the same period last year. The share of Recharge cars reached 64%, with electrics accounting for 31.6% (6,715 units).

In February, Volvo’s XC60 was the top selling model with sales reaching 16,088 cars (2022: 13,503), followed by the XC40, with total sales at 15,398 cars (2022: 12,611 units), and XC90 at 7,114 cars (2022: 5,582 units).