European Demand for Electrified Volvo Cars Boosts Global Sales 3%

Automaker sees overall growth for October despite falls in the U.S. and China auto markets.

Paul Myles, European Editor

November 5, 2024

1 Min Read
Volvo Electrified Models 2024
Europe's consumers keep the brand's global sales rising with their taste for electrified powertrain vehicles.

Volvo Cars announce a 3% hike in global vehicle sales for October thanks to strong demand for its electrified powertrain models in Europe offsetting sales declines in the U.S. and China.

The automaker sold a total of 61,686 vehicles globally in the month with a 40% rise in its electrified models, including plug-in hybrids and battery-electric vehicles, compared to the same month last year.

These vehicles now make up 48% of Volvo’s overall vehicle sales with BEVs accounting for 22% of the total.

Total sales for the period of January through the end of October amounted to 622,608 cars globally, an increase of 9% compared to the same period of 2023.

In Europe, sales accounted for nearly half of global sales with 30,167 units sold in October, up 21% compared to the same period last year.

Sales of its electrified models increased 46% compared to the same period last year and the share of electrified models accounted for 66% of all cars sold in Europe during the month.

However, sales in the U.S. slumped 17% in October, totaling 9,360 cars although electrified models increased 18% compared to the same period last year, with plug-in hybrid models increasing 67%.

Volvo’s sales in China achieved just 13,502 cars, down 10% compared to October 2023. Sales of electrified models stood at 1,436, an increase of 23% compared to the same period last year.

The Volvo XC60 model was Volvo Cars' top-selling vehicle with sales of 19,846 cars, compared to 20,212 the previous year, followed by the XC40/EX40, with total sales of 14,088 cars (17,022 in 2023) and the XC90 at 8,517 cars (7,961 in 2023).

About the Author

Paul Myles

European Editor, Informa Group

Paul Myles is an award-winning journalist based in Europe covering all aspects of the automotive industry. He has a wealth of experience in the field working at specialist, national and international levels.

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