Volvo Cars set a new global sales record of 708,716 cars in 2023, an increase of 15 percent compared to 2022.

Volvo also saw a significant increase in sales of its electrified cars with 113,419 fully electric cars sold in 2023, an increase of 70 percent compared to 2022, and 152,561 plug-in hybrid cars, a 10 percent increase. Sales of fully electric cars accounted for 16 percent of all Volvos sold globally during 2023.

European sales reached 294,794 cars, an increase of 19 percent compared to 2022. The Recharge line-up, with a fully electric or plug-in hybrid powertrain, accounted for 59 percent of all the cars sold in the region.

U.S. sales amounted to 128,701 cars, up 26 percent compared to 2022. The number Recharge cars increased by 28 percent and accounted for 28 percent of all cars sold.

Sales in China grew 5 percent compared to 2022, resulting in 170,091 sold cars. Overall, sales of Recharge cars grew 26 percent.

For 2023 the Volvo XC60 was the top-selling model with sales reaching 228,646 cars (2022: 195,338 cars), followed by the XC40, with total sales of 200,670 cars (2022: 169,206 cars), and XC90 at 107,549 cars (2022: 97,130 cars).

	2023	2022	Change	2023	2022	Change
	Dec	Dec		Jan-Dec	Jan-Dec
Europe	34,726	33,407	4%	294,794	247,413	19%
Recharge	18,933	22,661	-17%	172,575	135,714	27%
Fully electric	8,920	10,579	-16%	75,476	45,690	65%
Plug-in hybrid	10,013	12,082	-17%	97,099	90,024	8%
China	15,944	16,950	-6%	170,091	162,322	5%
Recharge	1,715	1,933	-11%	15,356	12,215	26%
Fully electric	249	777	-68%	3,281	2,999	9%
Plug-in hybrid	1,466	1,156	27%	12,075	9,216	31%
U.S.	13,609	11,111	23%	128,701	102,038	26%
Recharge	3,232	3,202	1%	35,657	27,909	28%
Fully electric	686	1,132	-39%	13,609	7,308	86%
Plug-in hybrid	2,546	2,070	23%	22,048	20,601	7%
Other	11,736	11,195	5%	115,130	103,348	11%
Recharge	4,581	4,030	14%	42,392	29,514	44%
Fully electric	2,415	2,100	15%	21,053	10,752	96%
Plug-in hybrid	2,166	1,930	12%	21,339	18,762	14%
Total	76,015	72,663	5%	708,716	615,121	15%
Recharge	28,461	31,826	-11%	265,980	205,352	30%
Fully electric	12,270	14,588	-16%	113,419	66,749	70%
Plug-in hybrid	16,191	17,238	-6%	152,561	138,603	10%