Volvo Cars reported 68,034 global car sales in May, 13% more than a year ago. During the first five months of the year, sales amounted to 316,559, up 15% year-over-year.
The results were boosted primarily by the solid all-electric car sales and overall results in Europe—Volvo's largest market. Volvo's plug-in electric car sales increased last month by 37% year-over-year to 32,768. This brought the rechargeable car share to a new record of 48.2% compared to 39.7% a year ago. The previous highest share was 47.9%, set in April.
Meanwhile, the EX30 remains somewhat MIA in the United States. It's currently unknown what role new 100% tariffs on China-built EVs will have on the EX30, if any. The EX30 is currently built in Zhangjiakou, China, but European production is also planned.
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Volvo EX30 Sales Record
In May, Volvo sold over 11,000 EX30s. It's now one of the best-selling Volvo models globally and one of the best-selling all-electric cars in Europe.
Globally, Volvo's all-electric car sales exceeded 17,000 units in May, up 58% year-over-year and a near-record level. Plug-in hybrid car sales also increased by almost 20% year-over-year to 15,704 units.
Volvo Recharge sales last month (YOY change):
- BEVs: 17,064 (up 58%) and 25.1% share
- PHEVs: 15,704 (up 20%) and 23.1% share
- Total Recharge: 32,768 (up 37%) and 48.2% share
Volvo Plug-In Car Sales - May 2024
So far this year, Volvo's plug-in car sales have exceeded 139,000 (up 24% year-over-year), accounting for 44% of the brand's total sales. All-electric car sales amounted to 72,325 (up 45%).
Volvo Recharge sales year-to-date (YOY change):
- BEVs: 72,325 (up 45%) and 22.8% share
- PHEVs: 66,961 (up 8%) and 21.2% share
- Total Recharge: 139,286 (up 24%) and 44% share
For reference, in 2023, Volvo plug-in car sales exceeded 265,000 cars (up 30% year-over-year), which was also 37.5% of the total volume.
Geographically, as usual, most Volvo plug-in cars were sold in Europe 22,028 out of 32,768). 66% of all Volvo sold in Europe were rechargeable.
In terms of models, the all-new Volvo EX30 model noted a new record of 11,035 sales in May and over 35,000 cumulatively.
The company also lists 1,521 sales of the Volvo C40 Recharge, down 61% year-over-year, and 244 sales of the all-new Volvo EM90. This leaves 4,264 units for the Volvo XC40 Recharge (down 38% year-over-year). The fifth all-electric model in the lineup will be the all-new Volvo EX90, which entered production this month.
Volvo Cars detailed sales results:
