Volvo Cars reported full 2023 sales of 708,716 cars during 2023, an increase of 15% compared to the full year of 2022. Volvo Cars also saw a significant increase in sales for its electrified cars.

Last year, Volvo Cars sold 113,419 fully electric cars, an increase of 70% compared to 2022, and 152,561 plug-in hybrid cars, which was a 10% increase compared to 2022. Sales of fully electric cars accounted for 16% of all Volvo cars sold globally during 2023.

For the month of December Volvo Cars sold 76,015 cars globally, an increase of 5% compared to the same period in 2022.

European sales reached 294,794 cars during 2023, an increase of 19% compared to 2022. Volvo Cars’ line-up of Recharge cars, with a fully electric or plug-in hybrid powertrain, accounted for 59% of all the cars sold in the region last year.

Volvo Cars’ US sales for 2023 amounted to 128,701 cars, up 26% compared to the full year of 2022. The number of sold Recharge cars increased by 28% and accounted for 28% of all cars sold in the US during the year.

Sales in China grew 5% compared to 2022, resulting in 170,091 sold cars during 2023. Overall, sales of Recharge cars grew 26% during the January to December period.

For 2023 the Volvo XC60 was the top-selling model with sales reaching 228,646 cars (2022: 195,338 cars), followed by the XC40, with total sales of 200,670 cars (2022: 169,206 cars), and XC90 at 107,549 cars (2022: 97,130 cars).