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Volvo Cars electrified models accounted for 42% of all sales in March; all-electric 23%

Volvo Cars reported sales of 78,970 cars in March, an increase of 25% compared to the same month last year, and an all-time high for global sales during a single month. Volvo Cars’ new fully electric small SUV—the EX30—contributed to the sales growth, as well as a strong sales performance in Europe and the US.

Volvo Cars’ line-up of electrified models, with a fully electric or plug-in hybrid powertrain, grew by 24% compared to the same period last year resulting in 33,558 sold cars, which makes up a 42% share of all cars sold globally. Fully electric cars constituted 23% of all cars sold during March.

Total sales for the first quarter of 2024 amounted to 182,687 cars sold globally, an increase of 12% compared to the same period last year.

European sales in March grew 33% compared to the same period last year, reaching 39,756 cars. Electrified cars in the region had a similar growth rate of 34%, resulting in 24,856 cars sold. Sales of electrified cars accounted for 63% of all cars sold in Europe this March.

In the US, sales of Volvo cars reached 15,315 cars which is an increase of 50% compared to March 2023. Sales of electrified cars grew by 25% compared to the same period last year and accounted for 24% of all cars sold in the US.

Sales in China reached 14,005 cars, an increase of 21% compared to the same period last year. During March, 1,039 electrified cars were sold in China, a decrease of 28% compared to the same period last year.

For March 2024, the Volvo XC60 remained the top-selling model with sales reaching 22,402 cars (2023: 18,090 cars), followed by the XC40 with total sales of 20,557 cars (2023: 20,556 cars), and XC90 at 10,826 cars (2023: 9,828 cars).


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