Volvo Posts Modest September Sales Growth

Volvo Cars sees a 1% uptick in its global sales for September, a performance success considering the general slowdown in vehicle sales, particularly in China and the U.S.

Volvo reports global sales of 62,458 cars are driven by a 43% growth in demand for electrified models, including battery-electric and plug-in-hybrid vehicles, compared with the same period last year. Electrified vehicles accounted for 48% of all cars sold during the month while the share of BEVs constituted 24% of all Volvos sold. 

The total sales for the period of January through September amounted to 560,922 cars globally, an increase of 10% compared with the same period 2023.

While Volvo’s major market is Europe, where sales were up 23% for the month to 31,276 cars, sales in the U.S. fell 22% totaling just 8,518 cars. However, sales of plug-in hybrids increased 43% compared with the same period last year.

In China, the automaker sold 12,915 units, down 16% compared to September 2023 reflecting the intense price war with rival domestic manufacturers.

Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars, says: “The overall market picture remains volatile and uncertain, but we are encouraged by a solid performance in Europe, especially for our electrified car portfolio, spearheaded by the EX30.”