Volvo Cars increased sales by 27 percent in April, the Swedish car manufacturer reports on Monday.
ATTACKS: Volvo EX30. Photo: volvo
The number of sales globally ended at 65,838, where the electrified models – both the all-electric and plug-in hybrids – accounted for 48 per cent. The all-electric cars made up 26 percent of the total.
The sales growth was mainly due to strong development on the European market and good sales of the all-electric SUV model EX30.
In Europe, Volvo Cars experienced sales growth of a whopping 65 percent, to 34,238 cars, with the EX30 being their best-selling model in the region last month. Globally, the EX30 was Volvo Cars’ third best-selling car in April, behind the XC60 and XC40.
Incidentally, the car was the best-selling car model in Norway in April.
In the US, Volvo’s sales growth in April was a slower 10 percent, with the plug-in hybrids as the main contributor. In China, however, sales fell by 3 percent compared to April last year.
The Volvo Cars share rose around 1 percent on the sales update. So far this year, the Swedish car stock is up around 16 per cent.
On the way to reaching the goal
– This result shows that we are making good progress with our guidance of a sales growth of at least 15 percent for the full year 2024, says Björn Annwall, commercial director and deputy CEO of Volvo Cars.
In total so far in 2024, Volvo Cars has now sold 214,914 cars globally – an increase of 16 per cent from January to April last year.
In comparison, the total ended at 708,716 last year, which was a new record for the company’s global sales.
