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Sales of Volvo Cars Rose 25% in March to Hit a Monthly Record

April 4, 2024
minute read

Volvo Car announced on Thursday that it achieved a historic milestone by recording its highest-ever monthly sales figure in March, with a remarkable 25% year-on-year increase in sales.

The Swedish automaker, primarily owned by China's Zhejiang Geely Holding Group, reported that it sold 78,970 cars in March, a notable surge from 63,132 cars sold in the corresponding period last year. This remarkable sales performance was attributed to the strong reception of its new EX30 fully-electric compact SUV and robust sales performance in both European and American markets.

In Europe, Volvo witnessed a significant 33% sales uptick, reaching 39,756 cars, while in China, sales experienced a commendable 21% increase, totaling 14,005 cars. Notably, the company reported an impressive 50% surge in sales in the United States, reaching 15,315 cars.

Volvo's lineup of fully-electric or plug-in hybrid models played a pivotal role in driving its global sales, constituting 42% of the total Volvo cars sold worldwide. Among these, fully-electric models accounted for 23% of the global sales volume, according to the company's statement.

Bjorn Annwall, Volvo's chief commercial officer and deputy chief executive, expressed his satisfaction with the company's performance, stating, "These numbers reflect the strength of our strategy and product diversity – offering fully-electric cars alongside plug-in hybrids and mild hybrids in the right mix."

He further emphasized their progress towards achieving the annual sales target of at least 15% growth, highlighting their forthcoming focus on scaling up sales of the EX30 in the coming months.

This notable achievement underscores Volvo's commitment to innovation and sustainability in the automotive industry, as it continues to expand its range of electrified vehicles and consolidate its position in key global markets.

Bryan Curtis
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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