Volvo’s Electric Car Sales Soar in 2023: What’s Driving the Success?

The past year 2023 was successful for Volvo in electric car sales, the manufacturer delivered 113,419 cars, which is significantly more than the year before – in 2022, Volvo sold 66,749 electric cars. Although sales are not as high as other automakers in absolute terms, sales are trending upward and Volvo is not facing a lack of demand like some other automakers.

If we look at the total volume of cars sold by Volvo, then electric car sales made up about 16% of the total number of cars sold. Also in this statistical section, electric cars are gradually gaining popularity among Volvo buyers – in 2022, 10.9% of cars sold were electric cars, and in 2021, only 3.7%. As you know, Volvo has committed to selling only electric cars from 2030. It is true that December was slower than expected, that is, trade volumes fell in all major regions when compared to December 2022. The manufacturer’s management indicates that there is no discernible tendency to decrease the number of orders and work continues as usual.

Volvo predicts that growth will continue and electric car sales will continue to climb as their latest models enter the market. First of all, very high expectations are placed on the EX30 crossover, which will enter the market fully this year. On paper at least, it’s a very intriguing proposition at a relatively reasonable price when compared to the overall electric car market. Personally, I think this is a really, really interesting car to look at. We should also expect Volvo’s new electric flagship EX90, while the EM90 minivan will be sold in China.

2024-01-08 07:30:00
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