The all-time-high sales record is a demonstration of Volvo Cars' strong electrified product portfolio in combination with a more stabilised supply chain.

Volvo Cars also saw a significant increase in sales for its electrified cars. Last year, Volvo Cars sold 113,419 fully electric cars, an increase of 70 per cent compared to 2022, and 152,561 plug-in hybrid cars, which was a 10 per cent increase compared to 2022. Sales of fully electric cars accounted for 16 per cent of all Volvo cars sold globally during 2023.

For the month of December Volvo Cars sold 76,015 cars globally, an increase of 5 per cent compared to the same period in 2022.

European sales reached 294,794 cars during 2023, an increase of 19 per cent compared to 2022. Volvo Cars' line-up of Recharge cars, with a fully electric or plug-in hybrid powertrain, accounted for 59 per cent of all the cars sold in the region last year.

Volvo Cars' US sales for 2023 amounted to 128,701 cars, up 26 per cent compared to the full year of 2022. The number of sold Recharge cars increased by 28 per cent and accounted for 28 per cent of all cars sold in the US during the year.
Sales in China grew 5 per cent compared to 2022, resulting in 170,091 sold cars during 2023. Overall, sales of Recharge cars grew 26 per cent during the January to December period.
For 2023 the Volvo XC60 was the top-selling model with sales reaching 228,646 cars (2022: 195,338 cars), followed by the XC40, with total sales of 200,670 cars (2022: 169,206 cars), and XC90 at 107,549 cars (2022: 97,130 cars).

December December Jan-Dec Jan-Dec
2023 2022 Change 2023 2022 Change

Europe 34,726 33,407 4% 294,794 247,413 19%
Recharge 18,933 22,661 -17% 172,575 135,714 27%
- Fully electric 8,920 10,579 -16% 75,476 45,690 65%
- Plug-in hybrid 10,013 12,082 -17% 97,099 90,024 8%

China 15,944 16,950 -6% 170,091 162,322 5%
Recharge 1,715 1,933 -11% 15,356 12,215 26%
- Fully electric 249 777 -68% 3,281 2,999 9%
- Plug-in hybrid 1,466 1,156 27% 12,075 9,216 31%

US 13,609 11,111 23% 128,701 102,038 26%
Recharge 3,232 3,202 1% 35,657 27,909 28%
- Fully electric 686 1,132 -39% 13,609 7,308 86%
- Plug-in hybrid 2,546 2,070 23% 22,048 20,601 7%

Other 11,736 11,195 5% 115,130 103,348 11%
Recharge 4,581 4,030 14% 42,392 29,514 44%
- Fully electric 2,415 2,100 15% 21,053 10,752 96%
- Plug-in hybrid 2,166 1,930 12% 21,339 18,762 14%

Total 76,015 72,663 5% 708,716 615,121 15%
Recharge 28,461 31,826 -11% 265,980 205,352 30%
- Fully electric 12,270 14,588 -16% 113,419 66,749 70%
- Plug-in hybrid 16,191 17,238 -6% 152,561 138,603 10%