Volvo Set Another Plug-In Car Sales Record In December 2022

Volvo Cars report 72,663 global car sales in December, which is 13 percent more than a year ago. In 2022 the company sold 615,121 cars – about 12 percent less than a year ago, because of the supply chain issues and Covid-related lockdowns in China.

According to Volvo, demand remains robust, which indicates that this year might be much better.

Volvo plug-in electric car sales reached a new record level in December. The company sold 31,826 rechargeable cars – a third more than a year ago, and almost 44 percent of its total volume.

We are especially happy to see a third consecutive monthly record for all-electric car sales – 14,588, which is over three times more than a year ago and over 20 percent of the total volume. This is a very important achievement for the company, which wants to become 100% electric in just several years.

The plug-in hybrid segment noted a small decrease year-over-year – by 10 percent to 17,238 – but that’s not a surprise. This year PHEVs were down year-over-year, every single month.

Volvo Recharge result:

• BEVs: 14,588 (up 206%) and 20.1% share
• PHEVs: 17,238 (down 10%) and 23.7% share
• Total: 31,826 (up 33%) and 43.8% share

During the fourth quarter, Volvo sold a total of 76,777 plug-in electric cars (including 34,380 BEVs and 42,397 PHEVs). Soon, BEVs might become a bigger segment than PHEVs.

In 2022, Volvo sold over 205,000 plug-in electric cars (compared to almost 190,000 in 2021), which is a third of the total volume. The year-over-year growth is pretty thin for Volvo Recharge cars, but the all-electric cars actually noted an outstanding growth of 159 percent year-over-year to 66,749.

Volvo Recharge sales YTD:

• BEVs: 66,749 (up 159%) and 10.9% share
• PHEVs: 138,603 (down 15%) and 22.5% share
• Total: 205,352 (up 8.5%) and 33.4% share

Geographically, as usual, most Volvo plug-in cars were sold in Europe (22,661 in December and 135,714 in 2022).

In the US, in December sales increased by 8 percent year-over-year to 3,202 (1,132 BEVs and 2,070 PHEVs), while in 2022 amounted to 27,909 (up 22 percent).

Meanwhile, plug-in electric car sales in China increased slightly in December to 1,933, and to 12,215 in 2022.

In terms of models, Volvo’s lineup includes two all-electric models, the Volvo C40 Recharge and the Volvo XC40 Recharge. In December, the company sold a record number of both models: 9,308 electric XC40 and 5,280 C40.

Volvo is expected to continue the expansion of its plug-in car sales, especially all-electric ones.

Volvo Cars detailed sales results: