Volvo Cars Achieves Impressive Global Sales Growth of 31% in May

Volvo Cars, the renowned automotive brand, has reported a remarkable increase in global sales for the month of May. The company sold a total of 60,398 cars during this period, marking a significant growth of 31% compared to the same month last year. The surge in sales can be attributed to the rising popularity of Volvo's fully electric vehicles, which witnessed an astounding 196% increase in sales during May. It's worth noting that the figures from May 2022 were adversely affected by supply chain constraints, resulting in lower production.

In the first five months of this year, Volvo Cars achieved a total sales figure of 275,312 cars, demonstrating a notable growth of 14% compared to the same period in 2022. This consistent growth further solidifies Volvo's position in the global automotive market.
Volvo Cars' Recharge models, consisting of fully electric and plug-in hybrid cars, experienced a remarkable surge in demand, with a 55% increase in sales during May. These Recharge models accounted for an impressive 40% of all Volvo cars sold worldwide during the month, with fully electric vehicles making up 18% of the total sales.
European markets showed particularly strong sales performance, with 26,272 cars sold in May, representing a remarkable 40% increase compared to the previous year. The Recharge models dominated the European market, accounting for 63% of overall sales, while fully electric cars held a notable share of 29%.
In the United States, Volvo Cars experienced a growth of 14% in May, with a total of 10,723 cars sold. The Recharge models constituted 28% of overall sales, and sales of fully electric vehicles saw an impressive surge of 66% compared to last year.
China also showcased a substantial increase in sales, with 14,121 cars sold in May, representing a remarkable growth of 49% compared to the same month last year. Sales of Volvo Cars' Recharge models in China witnessed an extraordinary 116% surge, accounting for 8% of total sales.
The top-selling model in May was the Volvo XC60, with 18,052 cars sold, followed closely by the XC40, with total sales of 17,596 cars. The XC90 also performed well, with 9,058 cars sold during the month.
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