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

"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," said Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars.

In Europe, sales reached 31,276 cars in September, up 23 per cent compared to the same period last year. The sales of Volvo Cars' electrified models increased by 52 per cent compared to the same period last year, and the share of electrified models accounted for 66 per cent of all cars sold in Europe during September.
Sales in the US decreased 22 per cent in September, totaling 8,518 cars. The decrease in sales was due in part to public holidays during the month. However, sales of plug-in hybrid models increased 43 per cent compared to the same period last year.

Volvo Cars' sales in China reached 12,915 cars, down 16 per cent compared to September 2023. Lower sales reflect the underlying macroeconomic conditions in the country. Sales of electrified models - fully electric and plug-in hybrid models - stood at 1,363 sold cars, an increase of 7 per cent compared to the same period last year.

In September, the Volvo XC60 was the top-selling model with sales of 18,096 cars (2023: 20,243), followed by the XC40/EX40, with total sales of 13,930 cars (2023: 18,306) and the EX30 at 9,610 cars (2023: 0).

September September Jan-Sep Jan-Sep
2024 2023 Change 2024 2023 Change

Europe 31 276 25 489 23% 274 419 208 769 31%
Electrified Models 20 714 13 599 52% 178 645 125 326 43%
- Fully electric 11 760 6 221 89% 103 460 52 766 96%
- Plug-in hybrid 8 954 7 378 21% 75 185 72 560 4%
Mild hybrids/ICE 10 562 11 890 -11% 95 774 83 443 15%

China 12 915 15 460 -16% 113 037 123 928 -9%
Electrified models 1 363 1 272 7% 9 982 11 132 -10%
- Fully electric 256 277 -8% 2 958 2 531 17%
- Plug-in hybrid 1 107 995 11% 7 024 8 601 -18%
Mild hybrids/ICE 11 552 14 188 -19% 103 055 112 796 -9%

US 8 518 10 946 -22% 89 547 92 125 -3%
Electrified models 3 416 3 052 12% 29 762 26 346 13%
- Fully electric 666 1 126 -41% 3 755 10 843 -65%
- Plug-in hybrid 2 750 1 926 43% 26 007 15 503 68%
Mild hybrids/ICE 5 102 7 894 -35% 59 785 65 779 -9%

Other 9 749 9 771 0% 83 919 84 336 0%
Electrified models 4 681 3 180 47% 38 360 30 424 26%
- Fully electric 2 561 1 581 62% 23 378 14 489 61%
- Plug-in hybrid 2 120 1 599 33% 14 982 15 935 -6%
Mild hybrids/ICE 5 068 6 591 -23% 45 559 53 912 -15%

Total 62 458 61 666 1% 560 922 509 158 10%
Electrified models 30 174 21 103 43% 256 749 193 228 33%
- Fully electric 15 243 9 205 66% 133 551 80 629 66%
- Plug-in hybrid 14 931 11 898 25% 123 198 112 599 9%
Mild hybrids/ICE 32 284 40 563 -20% 304 173 315 930 -4%

Volvo Cars in 2023
For the full year 2023, Volvo Car Group recorded a record-breaking core operating profit of SEK 25.6 billion. Revenue in 2023 amounted to an all-time high of SEK 399.3 billion, while global sales reached a record 708,716 cars.

About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker "VOLCAR B".

"For life. To give people the freedom to move in a personal, sustainable and safe way." This purpose is reflected in Volvo Cars' ambition to become a fully electric car maker and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to achieve net zero greenhouse gas emissions by 2040.

As of December 2023, Volvo Cars employed approximately 43,400 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).

For further information please contact:
Volvo Cars Media Relations
+46 31-59 65 25
media@volvocars.com