Volvo Cars Reports Global Sales Surge in July

Volvo Cars reported a 21 per cent increase in global sales for the month of July compared to the same period last year, selling a total of 54,165 cars. This marked the eleventh consecutive month of year-over-year growth for the company.

For the first seven months of 2023, Volvo Cars reported global sales of 3,95,856 vehicles, up 18 per cent compared to the same period in the previous year. The company says the consistent growth has been because of the growing popularity of its Recharge line-up of chargeable models, featuring fully electric or plug-in hybrid powertrains. The Recharge models almost doubled in sales compared to July last year. These models accounted for 35 per cent of all Volvo cars sold globally during the month, with fully electric cars contributing 10 per cent to the total.

In Europe, sales reached 20,286 cars, up by 28 per cent compared to the previous year. Notably, Recharge models made up 56 per cent of all sales in the region, with fully electric cars comprising 13 per cent of the total sales.

The United States witnessed a 57 per cent surge in sales, with 10,785 cars sold in July. The Recharge line-up experienced 226 per cent growth compared to last year, accounting for 29 per cent of total sales in the US market.

In China, despite a slight decrease of 8 per cent in July compared to the same month last year, Volvo Cars sold 14,182 units. Recharge models constituted 8 per cent of the total sales in the Chinese market.

Earlier in June, Volvo Cars reported global sales of 66,379 cars, a substantial 33 per cent increase compared to June of the previous year. For the first six months of 2023, Volvo Cars sold 3,41,691 cars globally, marking an 17 per cent growth over the same period in 2022. In June, the Recharge line-up experienced a 129 per cent growth, accounting for 37 per cent of all Volvo cars sold worldwide during the month, with fully electric cars making up 14 per cent of the total.

Written by: - RONIT AGARWAL