Volvo Global EV Sales Hit A New Record In March 2024, Thanks To The EX30

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Volvo's plug-in electric car sales in March reached a new monthly record of 33,558 (up 24% year-over-year). That's 42.5% of that brand's total volume.

Volvo Cars reported 78,970 global car sales in March, which is 25% more than a year ago and an all-time monthly record. In Q1, sales amounted to 182,687 . Volvo's plug-in electric car sales also increased, reaching a new monthly record of 33,558 . That's 42.5% of that brand's total volume. Get Fully Charged Volvo EX30 takes EV sales to new records In March, Volvo sold more than 8,600 EX30s.

1% share For reference, in 2023, Volvo plug-in car sales exceeded 265,000 cars , which was also 37.5% of the total volume. Geographically, as usual, most Volvo plug-in cars were sold in Europe. In the United States, plug-in car sales in March increased by 25% year-over-year to 3,642 and a 23.8% share. The key element of Volvo's EV sales boost is the ramp-up of the all-new Volvo EX30 model.

 

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Volvo Cars' Shares Hit Highest Level Since November on Record March SalesShares in Sweden's Volvo Cars hit their highest level since November on Thursday after the automaker posted record March sales. Year-on-year sales of electric vehicles in Europe were 22% higher in the quarter and up 34% in March, roughly in line with overall sales growth in that market. Sweden's Volvo Cars on Thursday climbed to its highest level since November, after the automaker reported record single-month sales for March and solid electric vehicle growth in Europe. Shares rose by 6.2% at 12:20 p.m. in London and hit their highest level since Nov. 16, according to LSEG data. Volvo Cars said its new all-electric EX30 model had boosted growth and that it would focus on ramping up sales of the vehicle in the coming months. Year-on-year sales of electric vehicles in Europe were 22% higher in the quarter and up 34% year-on-year in March, roughly in line with overall sales growth in that market
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