Volvo Cars PHEV and EV sales increase in March 2024

Volvo Cars today said its plug-in hybrid electrified (PHEV) and electric vehicles (EV) cars registered a 24 percent sales boost in March 2024 compared as it shared the first quarter of 2024 business results.

The company sold 38,558 PHEVs in March 2024, which is 42 percent of all cars sold globally in that time. Fully electric Volvo cars on the other hand accounted for 23 percent of all sales in March.

Bjorn Annwall, Chief Commercial Officer and Deputy CEO at Volvo Cars said that the company is moving steadily at the annual sales target of at least 15 percent growth. He also mentioned that Volvo Cars will improve sales of the fully electric small SUV EX30.

The Volvo XC60 achieved 22,402 cars compared to 18,090 cars in 2023. The XC40 follows at 20,557 units in sales compared to 20,556 in 2023. The XC90 comes third at 10,826 unit sales up from 9,828 cars sold in March 2023.

The U.S.

The company sold 15,315 cars in the U.S. in March with a 50 percent increase compared to March 2023. This figure includes 25 growth in electric cars, which account for 24 percent of the overall sales.

Europe:

The region registered 39,756 cars in March with 33 percent growth compared to March 2023. The electric segment in the region reached 34 percent growth with 24,856 car sales. Electric models accounted for 63 percent of all cars in March in Europe.

China

Sales in China reached 14,005 cars in March this year with a 21 percent year-over-year growth rate. Last month, the company sold 1,039 electrified cars in China with a decline of 27 percent compared to March 2023.

The global sales of Volvo Cars for the first quarter of 2024 reached 182,687 units with a 12 percent year-on-year increase compared to the first quarter of 2023.

(source – Volvo Cars)