Volvo Cars announced its January sales results, with a total of 48,520 cars sold, a 2% increase from the same month in the previous year. The Swedish automaker saw a significant rise in sales for its Recharge line of electric and hybrid vehicles, with a 31% YoY increase and accounting for 40.7% of all Volvo sales globally. The fully electric models alone represented 16.2% of the total sales.
Europe had the strongest sales growth, with 21,436 cars sold, a 14.7% increase from January 2022. The UK, Italy, and Belgium were among the leading markets. Recharge models made up 59.8% of the total sales in Europe.
In the US, 7,693 cars were sold, a 8.2% rise from January of the previous year. The Recharge line accounted for 30.8% of the total sales in the US.
China experienced a 19.5% decrease in sales, selling 11,783 cars in January, due to the timing of the Chinese New Year. Recharge vehicles represented 10.7% of total sales in the country.
Volvo’s top-selling models in January were the XC60 with 16,016 units sold (14,516 in 2022), followed by the XC40 with 14,038 units sold (12,286 in 2022), and the XC90 with 7,438 units sold (7,243 in 2022).
