Volvo Car AB (publ): Volvo Cars' global sales up 5 per cent in November

Volvo Cars reported global sales of 66,977 cars in November, up 5 per cent compared to the same period last year. The sales increase was primarily driven by Europe and the US. Sales in China declined, but the performance of the electrified range was solid.

The company's sales of electrified models - fully electric and plug-in hybrid models - grew 40 per cent compared to the same period last year and accounted for 48 per cent of all cars sold during November. The share of fully electric cars constituted 21 per cent of all cars sold for the month.

The total sales for the period of January through November amounted to 689,585 cars globally, an increase of 9 per cent compared to the same period 2023. 
 

In Europe, sales reached 31,611 cars in November, up 20 per cent compared to the same period last year. The sales of Volvo Cars' electrified models increased by 39 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 November.

Sales in the US increased 5 per cent in November, totalling 12,259 cars. Sales of electrified models increased 58 per cent compared to the same period last year, while plug-in hybrid models increased 96 per cent.

Volvo Cars' sales in China reached 13,923 cars, down 8 per cent compared to November 2023. Sales of electrified models - fully electric and plug-in hybrid models - stood at 1,847 sold cars, an increase of 38 per cent compared to the same period last year.

In November, the Volvo XC60 was the top-selling model with sales of 21,586 cars (2023: 22,317), followed by the XC40/EX40, with total sales of 14,613 cars (2023: 16,672) and the XC90 at 10,533 cars (2023: 9,860).