European Demand for Electrified Volvo Cars Boosts Global Sales 3%

Volvo Cars announce a 3% hike in global vehicle sales for October thanks to strong demand for its electrified powertrain models in Europe offsetting sales declines in the U.S. and China.

The automaker sold a total of 61,686 vehicles globally in the month with a 40% rise in its electrified models, including plug-in hybrids and battery-electric vehicles, compared to the same month last year.

These vehicles now make up 48% of Volvo’s overall vehicle sales with BEVs accounting for 22% of the total.

Total sales for the period of January through the end of October amounted to 622,608 cars globally, an increase of 9% compared to the same period of 2023.

In Europe, sales accounted for nearly half of global sales with 30,167 units sold in October, up 21% compared to the same period last year.

Sales of its electrified models increased 46% compared to the same period last year and the share of electrified models accounted for 66% of all cars sold in Europe during the month.

However, sales in the U.S. slumped 17% in October, totaling 9,360 cars although electrified models increased 18% compared to the same period last year, with plug-in hybrid models increasing 67%.

Volvo’s sales in China achieved just 13,502 cars, down 10% compared to October 2023. Sales of electrified models stood at 1,436, an increase of 23% compared to the same period last year.

The Volvo XC60 model was Volvo Cars' top-selling vehicle with sales of 19,846 cars, compared to 20,212 the previous year, followed by the XC40/EX40, with total sales of 14,088 cars (17,022 in 2023) and the XC90 at 8,517 cars (7,961 in 2023).