Volvo Cars reports global electrified sales account for 48% of all cars sold in April

Volvo Cars reported global sales of 65,838 cars in April, up 27% compared to the same period last year, which the company said was primarily driven by its fully electric small SUV, the EX30, and a strong performance in Europe. The company’s electrified models, with a fully electric or plug-in hybrid powertrain, grew 53% compared to the same period last year and accounted for 48% of all cars sold during April. The share of fully electric cars constituted 26% for the month.

The total sales for the period of January through April amounted to 214,914 cars globally, an increase of 16% compared to the same period in 2023.

“This performance demonstrates we are making good progress on our guidance of retail sales growth of at least 15% for the full year 2024,” Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars said. “I am also happy to see the positive reception from EX30 customers as we ramp up deliveries of the car, as well as the continued growth of our electrified models. This reinforces our confidence in the strength of our balanced portfolio of fully electric, plug-in hybrid and mild hybrid cars.”

In Europe, sales rose to 34,238 cars for April, up 65% compared to the same period last year. The company said its new EX30 emerged as its best-selling model in the region, contributing to a 76% increase in the sales of Volvo Cars’ electrified models compared to the same period last year. The share of electrified models accounted for 67% of all cars sold in Europe during April.

Sales in the U.S. saw a 10% increase in April, totaling 10,604 cars. This growth was mainly driven by an 89% increase in plug-in hybrid car sales.

Volvo Cars’ sales in China reached 12,221 cars, down 3% compared to April in 2022. Sales of electrified models stood at 1,062 cars, a decrease of 16% compared to the same period last year.

In April, Volvo sys its XC60 was the top-selling model with sales of 19,542 cars (2023: 16,658), followed by the XC40, with total sales of 15,139 cars (2023: 13,740) and the EX30 at 9,730 cars (2023: 0).

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