Volvo sees new record sales for 2023

Volvo Cars has announced that 2023 has been a record year for its sales as the firm sold a total of 708,716 cars globally, an increase of 15% compared to 2022.

The firm attributes this sales record to its strong electrified portfolio as well as a more stable supply chain. Total sales of all-electric vehicles reached 113,419 for the year, a 70% increase compared to 2022, while total sales of plug-in hybrid vehicles reached 152,561, a 10% increase compared to 2022. Sales of all-electric vehicles accounted for 16% of all Volvo cars sold globally in 2023.

Volvo also states that its lineup of Recharge vehicles, with either a fully electric or plug-in hybrid powertrain, accounted for 59% of its total sales in Europe in 2023. This figure stood at 28% for the U.S.A.

For 2023, Volvo's best-selling model was the XC60, followed by the XC40 and XC90.