Volvo Cars achieved a milestone with 78,970 global car sales in March, representing a 25% increase from the previous year, setting an all-time monthly record. In Q1 of this year, sales reached 182,687 units, marking a 12% year-over-year growth.
Furthermore, Volvo’s plug-in electric car sales surged to a new monthly high of 33,558 units in March, showcasing a 24% year-over-year increase and accounting for 42.5% of the brand’s total volume.
Volvo EX30 drives EV sales to unprecedented levels
March saw Volvo achieve over 8,600 EX30 sales. The ongoing focus will be on ramping up sales of this new all-electric model in the upcoming months.
The rise in Volvo’s plug-in electric car sales is primarily due to the success of all-electric models. In March, Volvo sold a record-breaking 18,021 EVs, a 43% increase from the previous year, propelling Volvo to achieve a new high of 22.8% EV share.
While plug-in hybrids also saw growth, with a modest 8% increase to 15,537 units year-over-year, they are lagging behind EVs and losing their share of Volvo’s total sales volume.
Recent sales data for Volvo Recharge in March (YOY change):
- BEVs: 18,021 (up 43%) and 22.8% share
- PHEVs: 15,537 (up 8%) and 19.7% share
- Total Recharge: 33,558 (up 24%) and 42.5% share
In Q1, nearly 75,000 plug-in cars were sold by Volvo, marking an 11% year-over-year increase, constituting over 41% of the brand’s total sales. All-electric car sales reached 38,171 units, a substantial 27% increase.
Volvo Recharge sales year-to-date (YOY change):
- BEVs: 38,171 (up 27%) and 20.9% share
- PHEVs: 36,824 (down 1%) and 20.2% share
- Total Recharge: 74,995 (up 11%) and 41.1% share
In comparison, in 2023, Volvo’s plug-in car sales exceeded 265,000 units (up 30% year-over-year), representing 37.5% of the total volume.
Europe remains the primary market for Volvo’s plug-in cars, while in the United States, sales increased 25% year-over-year in March to 3,642 units, capturing a 23.8% share.
The notable surge in Volvo’s EV sales can be attributed to the introduction of the all-new Volvo EX30 model. In the recent month, global sales of 8,681 EX30s set a new record, surpassing the combined sales of the previous four months.
Björn Annwall, Volvo Cars’ chief commercial officer & deputy CEO, stated: “These numbers reflect the strength of our strategy and product diversity – offering fully electric cars alongside plug-in hybrids and mild hybrids in the right mix. We are making good progress towards our annual sales target of at least 15 percent growth and in the months ahead, we will focus on ramping up sales of our EX30.”
2025 Volvo EX30 Twin Motor Performance (Vapour Grey)
Volvo EX90 Excellence
The other two all-electric models—Volvo XC40 Recharge and Volvo C40 Recharge—noted 7,175 and 2,165 units sold in March, respectively.
Later this year, the lineup will be expanded with the all-new Volvo EX90, while the Volvo EM90 is already in the pipeline.
Volvo Cars detailed sales results:
