Volvo Cars reported a total of 48,520 global car sales in January, a 2% increase compared to the previous year. However, the figures are still 19% lower than the sales recorded in 2021. Despite this, the company has reason to celebrate as their plug-in electric car sales continue to grow at a steady rate.
In January, Volvo sold 19,742 rechargeable cars, a 31% increase from the previous year. This represents 40.7% of the total car sales, marking the third consecutive month with a result above 40%.
More notably, all-electric car sales saw a significant boost of 152% year-over-year, reaching 7,874. While the sales of battery electric vehicles (BEVs) are still lower than plug-in hybrid electric vehicles (PHEVs) (11,868), the continued decline in PHEV sales for 13 consecutive months suggests it may not be long before BEV sales surpass those of PHEVs.
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Volvo Recharge sales:
- BEVs: 7,874 (up 152%) and 16.2% share
- PHEVs: 11,868 (down 1%) and 24.5% share
- Total: 19,742 (up 31%) and 40.7% share
Volvo sold 205,352 plug-in electric vehicles in 2022, a 8.5% increase from the previous year, with 66,749 being all-electric (BEV) and 138,603 being plug-in hybrid (PHEV). Europe was the biggest market for these vehicles, followed by the US and China.
Volvo’s lineup includes two all-electric models, the C40 Recharge and the XC40 Recharge, with the latter being the more popular of the two. Volvo is expected to continue its growth in electric vehicle sales, with plans to launch the large SUV, the EX90, and a smaller crossover, the EX30.
