Volvo Sold Over 21,000 Plug-In Cars In September 2023

Volvo Cars reported 61,666 global car sales in September, which is 25 percent more than a year ago. During the first nine months of 2023, the company sold 509,158 cars (up 19 percent year-over-year).

Volvo plug-in electric car sales increased even faster, by 37 percent year-over-year to 21,103, which allowed plug-ins to achieve a share of 34.2 percent (compared to 31.3 percent a year ago).

It’s not a bad result considering that Volvo soon will launch its next-generation all-electric cars and very likely enter a higher gear of electrification.

Currently, all-electric car sales are slightly lower than plug-in hybrid car sales, but this is expected to change next year.

Volvo Recharge sales last month (YOY change):

• BEVs: 9,205 (up 52%) and 14.9% share
• PHEVs: 11,898 (up 27%) and 19.3% share
• Total Recharge: 21,103 (up 37%) and 34.2% share

During the third quarter, Volvo sold almost 57,000 plug-in cars, including 21,369 all-electric cars.

So far this year, Volvo plug-in car sales amounted to over 193,000 cars (up 50 percent year-over-year), which is also 38 percent of the total volume.

Volvo Recharge sales year-to-date (YOY change):

• BEVs: 80,629 (up 149%) and 15.8% share
• PHEVs: 112,599 (up 17%) and 22.1% share
• Total Recharge: 193,228 (up 50%) and 38% share

For reference, in 2022, Volvo sold over 205,000 plug-in electric cars (about 33 percent of the total volume).

This year, Volvo Recharge car sales should easily exceed 250,000 but 300,000 currently seems out of range.

Geographically, as usual, most Volvo plug-in cars were sold in Europe – 13,599 in September (up 21 percent year-over-year), representing 53 percent of the total volume.

In the United States, plug-in car sales increased by 161 percent year-over-year to 3,052. That’s about 28 percent of the total sales.

In China, Volvo plug-in electric car sales remain relatively low at 1,272 units in September (up 20 percent year-over-year).

In terms of models, Volvo’s lineup includes two all-electric models, the Volvo C40 Recharge and the Volvo XC40 Recharge. In September, Volvo XC40 Recharge sales amounted to 6,372, compared to 2,833 Volvo C40 Recharge.

In the not-too-distant future, the BEV lineup will be joined by the all-new Volvo EX90, Volvo EX30 and the recently announced Volvo EM90, which are expected to significantly increase the BEV share out of the total sales. The company’s target is 100% BEV share by 2030.

Volvo Cars detailed sales results: