Volvo Cars' global sales up 27 per cent in April

Volvo Cars reports global sales of 65,838 cars, up 27 per cent compared to the same period last year. The sales increase was primarily driven by a strong performance in Europe as well as the company's fully electric small SUV, the EX30.

The company's electrified models, with a fully electric or plug-in hybrid powertrain, grew 53 per cent compared to the same period last year and accounted for 48 per cent of all cars sold during April. The share of fully electric cars constituted 26 per cent for the month.

The total sales for the period of January through April amounted to 214,914 cars globally, an increase of 16 per cent compared to the same period 2023. 

"This performance demonstrates we are making good progress on our guidance of retail sales growth of at least 15 per cent for the full year 2024," said Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars. "I am also happy to see the positive reception from EX30 customers as we ramp up deliveries of the car, as well as the continued growth of our electrified models. This reinforces our confidence in the strength of our balanced portfolio of fully electric, plug-in hybrid and mild hybrid cars."

In Europe, sales soared to 34,238 cars for April, up 65 per cent compared to the same period last year. The new EX30 emerged as the company's best-selling model in the region, contributing to a 76 per cent increase in the sales of Volvo Cars' electrified models compared to the same period last year. The share of electrified models accounted for 67 per cent of all cars sold in Europe during April.

Sales in the US saw a 10 per cent increase in April, totaling 10,604 cars. This growth was mainly driven by an 89 per cent increase in plug-in hybrid car sales. 

Volvo Cars' sales in China reached 12,221 cars, down 3 per cent compared to April in 2022. Sales of electrified models stood at 1,062 sold cars, a decrease of 16 per cent compared to the same period last year.

In April, the Volvo XC60 was the top-selling model with sales of 19,542 cars (2023: 16,658), followed by the XC40, with total sales of 15,139 cars (2023: 13,740) and the EX30 at 9,730 cars (2023: 0).

For further information please contact:

Volvo Cars Media Relations
+46 31-59 65 25
media@volvocars.com

Volvo Cars Investor Relations
John Hernander
+46 31-793 94 00
investors@volvocars.com

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Volvo Cars in 2023 

For the full year 2023, Volvo Car Group recorded a record-breaking core operating profit of SEK 25.6 billion. Revenue in 2023 amounted to an all-time high of SEK 399.3 billion, while global sales reached a record 708,716 cars.

About Volvo Car Group 

Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker "VOLCAR B".

"For life. To give people the freedom to move in a personal, sustainable and safe way." This purpose is reflected in Volvo Cars' ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.

As of December 2023, Volvo Cars employed approximately 43,400 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).

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