Volvo reports global sales record in 2023

Jan 10, 2024

Volvo is a manufacturer that is just going from strength to strength as it sets a new global sales record with the company reporting full year sales of 708,716 cars during 2023, an increase of 15 per cent compared to the full year of 2022.

The all-time-high sales record is a demonstration of Volvo Cars’ strong and growing electrified product portfolio, in combination with a more stabilised supply chain.

Volvo also saw a significant increase in sales for its electrified cars. Last year, Volvo sold 113,419 fully electric cars, which was a huge increase of 70 per cent compared to 2022, and 152,561 plug-in hybrid cars, which was a 10 per cent increase compared to 2022. Sales of fully electric cars accounted for 16 per cent of all Volvo cars sold globally during 2023.

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

Europe was the leading marketing for Volvo, where sales reached 294,794 cars during 2023, an increase of 19 per cent compared to 2022. With fully electric or plug-in hybrids accounting for a massive 59 per cent of all the cars sold in the region last year.

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).

2024 will see the launches of the highly anticipated fully electric EX30 and EX90 models, both of which will be available in New Zealand.