Volvo kicked off 2024 with a slight dip in global sales, reporting a 5% decline compared to January last year. The Swedish automaker sold 50,820 cars worldwide, with a notable drop in petrol and mild hybrid models. However, the silver lining came from electrified models, which saw a significant boost, reflecting the brand’s growing shift toward sustainability.
Sales
Volvo’s total sales took a hit primarily due to the timing of the Chinese New Year, which impacted deliveries in one of its key markets. While petrol and mild hybrid models saw a 17% decline, sales of fully electric and plug-in hybrid models surged by 17%. This positive shift meant that electrified models accounted for 44% of Volvo’s total sales in January, with fully electric cars making up 19% of that figure.
Models
Among Volvo’s models, the XC60 remained the best-seller with 18,972 units sold, improving slightly from 18,011 units in January 2023. However, other models, such as the XC40/EX40 and the XC90, witnessed a decline in sales:
| Model | Sales in Jan 2024 | Sales in Jan 2023 |
|---|---|---|
| XC60 | 18,972 | 18,011 |
| XC40/EX40 | 8,736 | 12,628 |
| XC90 | 7,473 | 8,167 |
This trend highlights the increasing consumer interest in electrified models over traditional petrol and mild hybrids.
India
In India, Volvo’s current lineup includes the XC90, XC60, S90, EX40, and C40 Recharge. The company has also confirmed the upcoming launch of its flagship electric SUV, the EX90, alongside its smaller sibling, the EX30. Currently, the brand’s electric portfolio in India consists of the EX40 Recharge and C40 Recharge, reinforcing Volvo’s commitment to electrification in the Indian market.
While Volvo experienced a slight decline in overall sales, the strong demand for its electrified models indicates a promising shift toward an electric future. The automaker’s investment in sustainable mobility is clearly paying off, and as markets continue to evolve, Volvo’s growing EV lineup is expected to drive stronger sales in the coming months.
FAQs
Why did Volvo’s sales decline in January?
The decline was mainly due to the timing of the Chinese New Year, impacting deliveries.
How much did Volvo’s EV sales grow?
Volvo’s electrified model sales increased by 17% compared to January 2023.
Which Volvo model sold the most in January 2024?
The XC60 was the top-selling model with 18,972 units sold.
What percentage of Volvo’s sales were fully electric?
Fully electric cars made up 19% of Volvo’s total sales in January 2024.
Which electric models does Volvo sell in India?
Volvo currently sells the EX40 Recharge and C40 Recharge in India.
