US: Volvo Increased Plug-In Car Sales In December 2022

Volvo Cars USA reports that its car sales in the United States increased in December by 6 percent year-over-year to 11,111. Nonetheless, the annual result of 102,038 is over 16 percent lower than in 2021.

Volvo explains that “full year sales performance was affected by challenges across the supply chain as well as production restraints caused by component shortages and Covid-related lockdowns in China.”

In terms of plug-in electric car sales, results are improving. In December, the company sold 3,202 plugs-ins, which is nearly 8 percent more than a year ago and almost 29 percent of the total volume. We can guess that it will not take long until more than a third of the total volume will be rechargeable (it happened a few times already).

The most important thing for us is that Volvo’s all-electric car sales remain in the four-digit range for the second month (1,132 in December), maintaining strong growth (up by 50 percent year-over-year) and 10+ percent share. It was actually a record month for BEVs.

Volvo plug-in car sales:

  • BEVs: 1,132 (up 50% year-over-year) and 10.2% share
  • PHEVs: 2,070 (down 7% year-over-year) and 18.6% share
  • Total Recharge: 3,202 (up 8% year-over-year) and 28.8% share

Volvo Recharge sales in the US – December 2022

During the fourth quarter of the year, Volvo sold in the US almost 8,500 plug-in electric cars.

In 2022, the total volume amounted to 27,909, which is enough for a healthy 22 percent increase year-over-year and 27.4 percent share in the total volume (compared to 18.7 percent in 2021).

Volvo plug-in car sales year-to-date in 2022:

  • BEVs: 7,308 (up 14% year-over-year) and 7.2% share
  • PHEVs: 20,601 (up 25% year-over-year) and 20.2% share
  • Total Recharge: 27,909 (up 22% year-over-year) and 27.4% share

There is a strong expectation that in 2023, Volvo will noticeably accelerate electrification, towards its goal to reach a 100% share of all-electric car sales globally by 2030, combined with an increase in sales volume to 1.2 million units annually.

Currently, Volvo offers in the US only electrified models (mild hybrid, hybrid, plug-in hybrid or all-electric), including two BEVs (XC40 Recharge and C40 Recharge).

In the future, the company will introduce the recently unveiled Volvo EX90 model, which will be produced in the US (alongside the Polestar 3).

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