Volvo Cars reported 63,682 global car sales in November, which is almost 8% more than a year ago. During the first eleven months of 2023, the company sold 632,701 cars (up 17 percent year-over-year).

Unfortunately, this time Volvo plug-in electric car sales decreased year-over-year by 8% to 22,948 units, which accounted for 36% of the brand's total volume (compared to 44% a year ago).

Because of how strong December 2022 was (a record 31,826 units were sold), we might see another year-over-year decline in December.

Last month's all-electric car sales amounted to 10,031 (down 14% year-over-year), while plug-in hybrid car sales amounted to 12,917 (down 3% year-over-year).

One of the most interesting things is that in November, Volvo sold its first 33 units of the all-new Volvo EX30. This is the first of the next-generation Volvo models, which in 2024 might significantly boost BEV sales.

Volvo Recharge sales last month (YOY change):

  • BEVs: 10,031 (down 14%) and 15.8% share
  • PHEVs: 12,917 (down 3%) and 20.3% share
  • Total Recharge: 22,948 (down 8%) and 36% share

Volvo Recharge sales - November 2023

So far this year, Volvo plug-in car sales exceeded 237,000 cars (up 37% year-over-year), which is also 37.5% of the total volume.

Volvo Recharge sales year-to-date (YOY change):

  • BEVs: 101,149 (up 94%) and 16% share
  • PHEVs: 136,370 (up 12%) and 21.6% share
  • Total Recharge: 237,519 (up 37%) and 37.5% share

For reference, in 2022, Volvo sold over 205,000 plug-in electric cars (about 33 percent of the total volume). This year, Volvo Recharge car sales should easily exceed 250,000.

Geographically, as usual, most Volvo plug-in cars were sold in Europe—14,653 in November (down 16% year-over-year), representing 55% of the total volume.

In the United States, plug-in car sales increased by 10% year-over-year to 3,038. That's about 26 percent of the total sales.

In China, Volvo plug-in electric car sales remain relatively low at 1,343 units in November (up 21 percent year-over-year) and 8.8% share.

In terms of models, Volvo's lineup now includes three all-electric models, the Volvo C40 Recharge, the Volvo XC40 Recharge, as well as the all-new Volvo EX30. In November, the Volvo EX30 sales amounted to 33 units and Volvo C40 Recharge sales amounted to 2,991 units, which leaves 7,007 for the Volvo XC40 Recharge.

In the not-too-distant future, the BEV lineup will be joined by the all-new Volvo EX90, and the recently announced Volvo EM90, which are expected to significantly increase the BEV share out of the total sales. The company's target is 100% BEV share by 2030.

Volvo Cars detailed sales results: