In February, Volvo Cars achieved a new milestone by selling 51,286 vehicles, marking a 22 percent increase from the same month last year and setting a new record for February. The surge in sales was primarily driven by the success of Volvo’s Recharge lineup, which includes fully electric and plug-in hybrid models.
Recharge vehicles made up 40 percent of Volvo’s global sales for the month. The company saw an outstanding boost in fully electric car sales, which soared by 187 percent year-over-year and represented 19 percent of total sales in February.
In the United States, Volvo experienced a robust performance, with sales rising by 38 percent compared to February of the previous year, totaling 8,560 cars. This growth was driven mainly by Volvo’s SUV lineup and a recovery from the supply chain issues that impacted production last year. Recharge models accounted for 29 percent of U.S. sales.
China saw a remarkable 50 percent increase in sales, reaching 13,066 cars. This growth was partly influenced by the timing of the Lunar New Year, which had negatively impacted sales in February 2022. Recharge models made up 9 percent of the total sales in China for the month.
In Europe, Volvo’s February sales hit 21,278 cars, reflecting a 9 percent rise from the previous year. Recharge models constituted 64 percent of the total sales in the region.
The XC60 was Volvo’s best-selling model for February, with 16,088 units sold (compared to 13,503 in 2022), followed by the XC40 with 15,398 units sold (up from 12,611), and the XC90 with 7,114 cars sold (compared to 5,582 units in the previous year).