MAHWAH, NJ (June 5, 2024) – Volvo Car USA and Canada sold 11,386 cars in May, down 3.2 percent over the same period last year. Electrified models — those with a fully electric or plug-in hybrid powertrain — accounted for a 38.2 percent share in May, an increase of 29.5 percent compared with the same month last year, mainly driven by a 110.3 percent increase of plug-in hybrids. Year to date, plug-in hybrids accounted for a 26.4 percent share, up 70.1 percent from the first five months in 2023.
Sales in the US reached 10,153, down 5.3 percent over the same period last year. Electrified models represented a 38.6 percent share, an increase of 28.8 percent over the same period last year.
The XC60 compact luxury SUV was the top selling model with 3,364 cars sold during May, followed by the XC90 midsize luxury SUV (3,120 cars) and XC40 small luxury SUV (1,764 cars).
Sales in Canada reached 1,233 cars, up 18.9 percent over the same period last year, with Electrified models representing 35.4 percent of total sales for the month, an increase of 36.3 percent compared with the same period last year.
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About Volvo Car USA
Headquartered in Mahwah, New Jersey, Volvo Car USA LLC (VCUSA) (www.volvocars.com/us) is a subsidiary of Volvo Car Group of Gothenburg, Sweden (Nasdaq Stockholm VOLCAR B), providing sales, marketing, parts, service, technology, and training support to Volvo automobile retailers in the United States since the 1950s. Operations also include a manufacturing campus in Ridgeville, SC that underlines the company’s long-term commitment to the U.S. as a key market. In addition, VCUSA maintains offices in California and parts distribution and training centers across the country. More information is available on the Volvo Car USA media website: http://www.media.volvocars.com/us
About Volvo Car Canada Ltd.
Volvo Car Canada Ltd. is a subsidiary of Volvo Car Group of Gothenburg, Sweden. VCCL provides marketing, sales, parts, service, technology, and training support to the 37 Volvo automobile retailers across Canada. For more information, please refer to the Volvo Cars Canada media website at: www.media.volvocars.com/ca/en-ca
Volvo Cars in 2023
For the full year 2023, Volvo Car Group recorded a record-breaking core operating profit of SEK 25.6 billion. Revenue in 2023 amounted to an all-time high of SEK 399.3 billion, while global sales reached a record 708,716 cars.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.
"For life. To give people the freedom to move in a personal, sustainable and safe way." This purpose is reflected in Volvo Cars' ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.
As of December 2023, Volvo Cars employed approximately 43,400 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).
