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Volvo Car USA And Canada Reports October Sales Of 10,517 Cars With Growth In Electrified Models
Volvo Car USA and Canada reported selling 10,517 vehicles in October, marking a 15.5% decrease compared to the same month last year. However, sales of electrified models, which include fully electric and plug-in hybrid vehicles, rose by 17.8% from the previous year. These electrified models made up 40.3% of total sales for the month.
In the United States, Volvo's October sales reached 9,360 units, reflecting a 17% decline from last year. Despite this drop, electrified models saw a 17.5% increase in sales compared to the same period last year, making up 38.2% of total sales. The XC60 compact luxury SUV led US sales with 3,156 units sold in October.
Canada's October sales figures showed a slight increase to 1,157 cars, up by 0.6% from last year. Electrified vehicle sales in Canada grew by 19.1%, representing 57% of total monthly sales. The XC90 midsize luxury SUV followed closely behind the XC60 in popularity in the US market with 2,948 units sold.
Year-to-date figures reveal that electrified model sales have risen by 16.2%, accounting for a 34.6% share of total sales compared to the first ten months of 2023. In Canada, electrified models have gained significant traction among consumers.
Mike Cottone, President of Volvo Car USA and Canada, stated: "As we continue our electrification journey, we are providing luxury car shoppers a variety of vehicles to suit their lifestyles." He highlighted options like the sporty EX40 and the popular XC60 and XC90 models.
Volvo Car USA LLC is based in Mahwah, New Jersey and operates as a subsidiary of Volvo Car Group from Gothenburg, Sweden. It supports US retailers with various services including marketing and technology support since the 1950s.
Global Presence and Ambitions
The company also has a manufacturing site in Ridgeville, South Carolina and maintains offices across California along with distribution centres nationwide. Meanwhile, Volvo Car Canada Ltd., another subsidiary of Volvo Car Group, supports its Canadian retailers similarly.
Globally in 2023, Volvo Car Group achieved an operating profit of SEK 25.6 billion with revenues reaching SEK 399.3 billion from record global sales of over 708,716 cars.
Aiming for Net-Zero Emissions
Founded in 1927, Volvo Cars is renowned worldwide with operations spanning more than 100 countries. It trades on Nasdaq Stockholm under "VOLCAR B" and aims to become fully electric while reducing its carbon footprint significantly by achieving net-zero emissions by 2040.
By December 2023, Volvo Cars employed around 43,400 full-time staff globally with headquarters located in Gothenburg alongside major production facilities across Europe and Asia including Belgium and China.
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