The company's sales of electrified models, fully electric and plug-in hybrid models, grew 37 per cent compared to the same period last year and accounted for 48 per cent of all cars sold during May. The share of fully electric cars constituted 25 per cent of all cars sold for the month.

The total sales for the period of January through May amounted to 316,559 cars globally, an increase of 15 per cent compared to the same period 2023.

"This month's sales figures are another measure of our progress towards our sales target of at least 15 per cent growth for 2024," said Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars. "I am delighted to see another month of solid growth, which is a testament to the strength of our brand. It's also reassuring to see the positive consumer response to the EX30, which has quickly become one of the best-selling fully electric cars in Europe."
In Europe, sales reached 33,252 cars in May, up 27 per cent compared to the same period last year. The sales of Volvo Cars' electrified models increased by 34 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 May.
Sales in the US saw a 5 per cent decrease in May, totalling 10,153 cars. However, the sales of plug-in hybrid models went up 113 per cent compared to the same period last year.

Volvo Cars' sales in China reached 13,934 cars, down 1 per cent compared to May 2023. Sales of electrified models - fully electric and plug-in hybrid models - stood at 1,303 sold cars, an increase of 10 per cent compared to the same period last year.

In May, the Volvo XC60 was the top-selling model with sales of 20,507 cars (2023: 18,052), followed by the XC40, with total sales of 13,640 cars (2023: 17,596) and the EX30 at 11,035 cars (2023: 0).

May May Jan-May Jan-May
2024 2023 Change 2024 2023 Change

Europe 33 252 26 272 27% 157 160 119 747 31%
Electrified models 22 028 16 481 34% 99 799 74 552 34%
- Fully electric 12 273 7 655 60% 57 390 34 130 68%
- Plug-in hybrid 9 755 8 826 11% 42 409 40 422 5%
Mild hybrids/ICE 11 224 9 791 15% 57 361 45 195 27%

China 13 934 14 121 -1% 64 113 63 121 2%
Electrified models 1 303 1 181 10% 4 808 6 271 -23%
- Fully electric 632 263 140% 1 757 1 531 15%
- Plug-in hybrid 671 918 -27% 3 051 4 740 -36%
Mild hybrids/ICE 12 631 12 940 -2% 59 305 56 850 4%

US 10 153 10 723 -5% 51 708 46 817 10%
Electrified models 3 914 3 039 29% 15 336 13 696 12%
- Fully electric 297 1 342 -78% 1 595 5 480 -71%
- Plug-in hybrid 3 617 1 697 113% 13 741 8 216 67%
Mild hybrids/ICE 6 239 7 684 -19% 36 372 33 121 10%

Other 10 695 9 282 15% 43 578 45 627 -4%
Electrified models 5 523 3 266 69% 19 343 17 479 11%
- Fully electric 3 862 1 566 147% 11 583 8 584 35%
- Plug-in hybrid 1 661 1 700 -2% 7 760 8 895 -13%
Mild hybrids/ICE 5 172 6 016 -14% 24 235 28 148 -14%

Total 68 034 60 398 13% 316 559 275 312 15%
Electrified models 32 768 23 967 37% 139 286 111 998 24%
- Fully electric 17 064 10 826 58% 72 325 49 725 45%
- Plug-in hybrid 15 704 13 141 20% 66 961 62 273 8%
Mild hybrids/ICE 35 266 36 431 -3% 177 273 163 314 9%