The company's sales of electrified models, including both fully electric and plug-in hybrid models, grew 49 per cent compared to the same period last year and accounted for 49 per cent of all cars sold during July. 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 July amounted to 445,520 cars globally, an increase of 13 per cent compared to the same period 2023.

"We are pleased to report another month of sales growth, which is driven largely bythesalesin Europedespite a generally challengingmarket environment," said BjörnAnnwall, chief commercial officer and deputy CEO at Volvo Cars.

In Europe, sales reached 28,390 cars in July, up 40 per cent compared to the same period last year. The sales of Volvo Cars' electrified models increased by 64 per cent compared to the same period last year, and the share of electrified models accounted for 65 per cent of all cars sold in Europe during July.
Sales in the US decreased 11 percent in July, totaling 9,597 cars. However, sales of plug-in hybrid models increased 73 percent compared to the same period last year.

Volvo Cars' sales in China reached 9,775 cars, down 31 per cent compared to July 2023. Sales of electrified models - fully electric and plug-in hybrid models - stood at 1,130 sold cars, a decrease of 3 per cent compared to the same period last year.

In July, the Volvo XC60 was the top-selling model with sales of 15,577 cars (2023: 18,259), followed by the XC40/EX40, with total sales of 13,818 cars (2023: 14,594) and the EX30 at 9,201 cars (2023: 0).

July July Jan-Jul Jan-Jul
2024 2023 Change 2024 2023 Change

Europe 28 390 20 286 40% 222 024 167 229 33%
Electrified Models 18 482 11 285 64% 142 437 101 545 40%
- Fully electric 10 314 2 712 280% 81 720 42 329 93%
- Plug-in hybrid 8 168 8 573 -5% 60 717 59 216 3%
Mild hybrids/ICE 9 908 9 001 10% 79 587 65 684 21%

China 9 775 14 182 -31% 87 937 92 708 -5%
Electrified models 1 130 1 170 -3% 7 386 8 735 -15%
- Fully electric 298 253 18% 2 466 2 054 20%
- Plug-in hybrid 832 917 -9% 4 920 6 681 -26%
Mild hybrids/ICE 8 645 13 012 -34% 80 551 83 973 -4%

US 9 597 10 785 -11% 70 609 70 535 0%
Electrified models 3 762 3 132 20% 22 413 20 621 9%
- Fully electric 520 1 255 -59% 2 501 8 858 -72%
- Plug-in hybrid 3 242 1 877 73% 19 912 11 763 69%
Mild hybrids/ICE 5 835 7 653 -24% 48 196 49 914 -3%

Other 9 685 8 912 9% 64 950 65 384 -1%
Electrified models 4 505 3 115 45% 29 311 24 219 21%
- Fully electric 2 998 1 284 133% 18 203 11 523 58%
- Plug-in hybrid 1 507 1 831 -18% 11 108 12 696 -13%
Mild hybrids/ICE 5 180 5 797 -11% 35 639 41 165 -13%

Total 57 447 54 165 6% 445 520 395 856 13%
Electrified models 27 879 18 702 49% 201 547 155 120 30%
- Fully electric 14 130 5 504 157% 104 890 64 764 62%
- Plug-in hybrid 13 749 13 198 4% 96 657 90 356 7%
Mild hybrids/ICE 29 568 35 463 -17% 243 973 240 736 1%