Volvo Statistics By Sales, Product, Market And Facts
Pramod Pawar
Updated · Mar 18, 2025
TABLE OF CONTENTS
- Introduction
- Editor’s Choice
- Volvo Production and Sales as of October 2022
- Volvo Current Facts And Statistics
- Global Volvo Cars Sales And Profit Statistics
- Volvo Cars Retail Sales (Car Model) 2024
- Volvo Cars Stock Market Statistics
- Volvo Cars Statistics 2024
- Volvo Global Electric Vehicle Sales 2024
- Volvo Popularity Statistics
- Conclusion
Introduction
Volvo Statistics: The Volvo Group, which is also known as Volvokoncernen, in legal aspects known as Aktiebolaget Volvo, is shortly known as AB Volvo. The basic business of Volvo is the sale, distribution, and production of trucks and buses, as well as construction equipment. In contrast, Volvo is also a supplier of marine and industrial drive systems and corporate financial services.
Volvo is a Swedish international manufacturing company headquartered in Gothenburg. We shall shed more light on the “Volvo Statistics” in this article.
Editor’s Choice
- In March, Volvo saw a 25% increase in plug-in car sales in the United States compared to the previous year, reaching 3,642 units and capturing a 23.8% market share.
- Volvo Statistics reported significant growth in sales of plug-in electric vehicles (EVs) in March, reaching a record 33,558 units sold, up 24% from the previous year.
- In March, Volvo Cars achieved record-breaking sales numbers globally, selling 78,970 vehicles, which is 25% higher than the previous year.
- Operating income (EBIT, excluding joint ventures and associates) increased to $6.8 billion, up 8% from Q1 2023, with an improved EBIT margin of 7.2%, compared to 6.6% a year earlier.
- According to Volvo Statistics, Volvo Cars’ first-quarter 2024 results showed revenue of $93.9 billion, slightly lower than $95.7 billion in Q1 2023.
- To stay competitive, Volvo Group invested heavily in research and development (R&D), spending over USD 2 billion (equivalent to 26 billion Swedish kronor as of Dec 31, 2023).
- In the fiscal year 2023, Volvo Group earned 553 billion Swedish kronor, which equals about USD 52 billion.
- Despite overall growth, Volvo faced challenges in 2023. Truck sales led the company’s revenue to nearly USD 29.8 billion, followed by construction equipment, which was about USD 9.6 billion, and buses, which were approximately USD 1.8 billion.
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Volvo Production and Sales as of October 2022
| Volvo Buses |
|
| Mack Trucks |
|
| Renault Trucks |
|
Volvo Current Facts And Statistics
(Source: factorywarrantylist.com)
- In the fiscal year 2023, Volvo Group earned 553 billion Swedish kronor, which equals about USD 52 billion.
- This marked a substantial 27% increase in sales compared to 2020, the pandemic-affected year when revenues had dropped by 14%. According to Volvo Statistics, it was Volvo’s most successful year since 2019.
- During 2022, Volvo Group’s global workforce grew to 102,155 employees, rebounding from a decrease in 2021 partly due to challenges from a global shortage of automotive semiconductors.
- The company also sold UD Trucks in April 2021, earning USD 2.3 billion from the sale, as stated by Volvo Statistics.
- Volvo Group, headquartered in Gothenburg, Sweden, operates globally, manufacturing, selling, and distributing trucks, buses, construction equipment, and financial services.
- Despite overall growth, Volvo faced challenges in 2023. Truck sales led the company’s revenue to nearly USD 29.8 billion, followed by construction equipment, which was about USD 9.6 billion, and buses, which were approximately USD 1.8 billion.
- While Europe saw a recovery in truck deliveries, other regions like Asia, Africa, and Oceania were slower to bounce back from pandemic impacts, as Volvo Statistics stated.
- Supply chain disruptions, including a global shortage of semiconductor chips, continued to affect Volvo Group in 2023, impacting truck production and orders.
(Source: insideevs.com)
- The construction equipment segment did not maintain the delivery growth seen in 2021, but buses saw an increase, especially in South America.
- As per Volvo Statistics, Asia remained a dominant market for construction equipment, driven by the popularity of Volvo’s SDLG subsidiary in China.
- In the competitive construction equipment market, Volvo Group ranked fourth globally in 2022, behind Caterpillar.
- In the truck sector, Daimler led with higher revenue compared to Volvo Group, which ranked second globally.
- To stay competitive, Volvo Group invested heavily in research and development (R&D), spending over USD 2 billion (equivalent to 26 billion Swedish kronor as of Dec 31, 2023).
- This investment focused on developing zero-emission commercial vehicles. Volvo committed to CALSTART’s Drive to Zero campaign in March 2022, aiming for full market penetration of zero-emission trucks and buses by 2040, as stated by Volvo Statistics.
- By 2020, a significant portion of Volvo’s European truck registrations had already met the EU’s CO2 standards, setting the stage for further progress toward environmental sustainability goals.
Global Volvo Cars Sales And Profit Statistics
(Source: helgilibrary.com)
- Volvo Cars achieved a new global sales record in 2023, selling 708,716 cars worldwide, which is 15% more than in 2022. This milestone reflects the success of Volvo’s lineup of electrified vehicles and improvements in its supply chain.
- Sales of Volvo’s electrified cars also saw significant growth. They sold 113,419 fully electric cars in 2023, a 70% increase from 2022, and 152,561 plug-in hybrid cars, a 10% increase from the previous year.
- As per Volvo Statistics, fully electric cars made up 16% of Volvo’s total global sales in 2023.
- In December alone, Volvo sold 76,015 cars globally, up 5% compared to December 2022.
- In Europe, Volvo sold 294,794 cars in 2023, a 19% increase from the previous year. Their Recharge cars, which are fully electric or plug-in hybrids, accounted for 59% of all sales in the region.
- In the United States, Volvo sold 128,701 cars in 2023, up 26% from 2022. Recharge cars represented 28% of total sales in the US, with a 28% increase compared to the previous year.
- In China, Volvo’s sales grew by 5% in 2023, reaching 170,091 cars sold. Sales of Recharge cars in China increased by 26% throughout the year.
- Volvo Statistics stated that the top-selling model for Volvo in 2023 was the XC60, with 228,646 cars sold, followed by the XC40, with 200,670 cars sold, and the XC90, with 107,549 cars sold.
- Overall, Volvo Cars’ record-breaking sales in 2023 demonstrate the success of its strategy of focusing on electrified vehicles and its strong performance across major markets globally.
| December 2013 | December 2022 | Change | Jan-Dec 2023 | Jan-Dec 2022 | Change | |
| China | 15,944 | 16,950 | -6% | 170,091 | 162,322 | 5% |
| Recharge | 1,715 | 1,933 | -11% | 15,356 | 12,215 | 26% |
| Fully Electric | 249 | 777 | -68% | 3,281 | 2,999 | 9% |
| Plug-in hybrid | 1,499 | 1,156 | 27% | 12,075 | 9,216 | 31% |
| Europe | 34,726 | 33,407 | 4% | 294,794 | 247,413 | 19% |
| Recharge | 18,933 | 22,661 | -17% | 172,575 | 135,714 | 27% |
| Fully Electric | 8,920 | 10,579 | -16% | 75,476 | 45,690 | 65% |
| Plug-in hybrid | 10,013 | 12,082 | -17% | 97,099 | 90,024 | 8% |
| US | 13,609 | 11,111 | 23% | 128,701 | 102,038 | 26% |
| Recharge | 3,232 | 3,202 | 1% | 35,657 | 27,909 | 28% |
| Fully Electric | 686 | 1,132 | -39% | 13,609 | 7,308 | 86% |
| Plug-in hybrid | 2,546 | 2,070 | 23% | 22,048 | 20,601 | 7% |
| Others | 11,736 | 11,195 | 5% | 115,130 | 103,348 | 11% |
| Recharge | 4,581 | 4,030 | 14% | 42,392 | 29,514 | 44% |
| Fully electric | 2,415 | 2,100 | 15% | 21,053 | 10,752 | 96% |
| Plug-in hybrid | 2,166 | 1,930 | 12% | 21,339 | 18,762 | 14% |
| Total | 76,015 | 72,663 | 5% | 708,716 | 615,121 | 15% |
| Recharge | 28,461 | 31,826 | -11% | 265,980 | 205,352 | 30% |
| Fully Electric | 12,270 | 14,588 | -16% | 113,419 | 66,749 | 70% |
| Plug-in hybrid | 16,191 | 17,238 | -6% | 152,561 | 138,603 | 10% |
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Volvo Cars Retail Sales (Car Model) 2024
| Models | May 2024 | May 2023 | % | Year to Date 2024 | Year to Date 2023 | % |
|
XC90 |
9,072 | 9,058 | 0.2 % | 44,062 | 41,623 | 5.9 % |
| XC60 | 20,507 | 18,052 | 13.6 % | 96,488 | 84,919 |
13.6 % |
|
XC40 |
13,640 | 17,596 | -22.5 % | 75,157 | 81,365 | -7.6 % |
| V90 CC | 443 | 686 | -35.4 % | 2,282 | 2,950 |
-22.6 % |
|
V90 |
369 | 702 | -47.4 % | 1,554 | 2,820 | -44.9 % |
| V60 | 2,619 | 2,284 | 14.7 % | 11,296 | 9,769 |
15.6 % |
|
V60 CC |
623 | 668 | -6.7 % | 3,657 | 3,314 | 10.4 % |
| S90 | 3,801 | 4,399 | -13.6 % | 18,121 | 18,448 |
-1.8 % |
|
S60 |
4,160 | 3,028 | 37.4 % | 18,518 | 13,996 | 32.3 % |
| EX30 | 11,035 | 0 | 100.0 % | 35,309 | 0 |
100.0 % |
|
EM90 |
244 | 0 | 100.0 % | 859 | 0 | 100.0 % |
| C40 | 1,521 | 3,925 | -61.2 % | 9,251 | 16,108 |
-42.6 % |
Volvo Cars Stock Market Statistics
-
Valuation Measures
| Current | 3/31/2024 | 12/31/2023 | 9/30/2023 | 6/30/2023 | 3/31/2023 | |
|
Enterprise Value/EBITDA |
2.26 | 2.49 | 2.18 | 3.50 | 2.99 | 2.70 |
| Enterprise Value/Revenue | 0.23 | 0.25 | 0.20 | 0.30 | 0.32 |
0.31 |
|
Price/Book |
0.76 | 0.85 | 0.82 | 1.07 | 1.08 | 1.09 |
| Price/Sales | 0.25 | 0.27 | 0.26 | 0.33 | 0.36 |
0.37 |
|
PEG Ratio (5yr expected) |
— | — | — | — | — | — |
| Forward P/E | 5.38 | 5.76 | — | 8.85 | 13.16 |
— |
|
Trailing P/E |
7.76 | 8.19 | 8.13 | 13.13 | 8.30 | 7.94 |
| Enterprise Value | 91.83B | 98.16B | 79.16B | 116.27B | 112.86B |
102.66B |
|
Market Cap |
100.44B | 120.91B | 97.01B | 132.41B | 127.58B | 134.66B |
-
Stock Price History
|
200-Day Moving Average |
37.48 |
| 50-Day Moving Average |
39.49 |
|
52 Week Low |
25.82 |
| 52 Week High |
51.41 |
|
S&P 500 52-Week Change |
25.51% |
| 52 Week Range |
-24.76% |
|
Beta (5Y Monthly) |
1.07 |
-
Share Statistics
|
Shares Short (prior month) |
— |
| Short % of Shares Outstanding |
— |
|
Short % of Float |
— |
| Short Ratio |
— |
|
Shares Short |
— |
| % Held by Institutions |
12.57% |
|
% Held by Insiders |
78.67% |
| Float |
571.86M |
|
Implied Shares Outstanding |
3.02B |
| Shares Outstanding |
2.98B |
|
Avg Vol (10 days) |
5 |
| Avg Vol (3 months) |
55 |
-
Dividend & Splits
|
Last Split Date |
— |
| Last Split Factor |
— |
|
Ex-Dividend Date |
— |
| Dividend Date |
— |
|
Payout Ratio |
0.00% |
| 5-Year Average Dividend Yield |
— |
|
Trailing Annual Dividend Yield |
0.00% |
| Trailing Annual Dividend Rate |
0.00 |
|
Forward Annual Dividend Yield |
— |
| Forward Annual Dividend Rate |
— |
Volvo Cars Statistics 2024
- Volvo Cars’ first-quarter 2024 results showed a revenue of $93.9 billion, slightly lower than $95.7 billion in Q1 2023.
(Source: greencarcongress.com)
- As per Volvo Statistics, Volvo Cars’ fully electric models accounted for 3.1% of their total sales during the first ten months, amounting to 18,261 cars.
- In October, this percentage rose to 5.6%, with 2,841 cars sold. A planned production ramp-up drove the increase.
- Additionally, Volvo Cars started manufacturing the fully electric C40 Recharge at their Ghent plant in October.
- Operating income (EBIT, excluding joint ventures and associates) increased to $6.8 billion, up 8% from Q1 2023, with an improved EBIT margin of 7.2%, compared to 6.6% a year earlier.
- Retail sales rose by 12% year-on-year to 182,687 cars, setting new sales records in 11 markets, including Germany and Canada.
- The company saw 21% of its global sales volume come from fully electric (EV) and plug-in hybrid (PHEV) cars, up from 18% last year.
- Volvo Cars focused on its EV strategy, achieving a 16% gross margin on EVs, up from 7% last year.
- The introduction of the EX30 SUV was particularly successful, contributing to sales growth and receiving awards.
- Looking ahead, Volvo Cars expects strong demand to continue, targeting at least 15% sales growth for the full year 2024.
- They anticipate improving cash flow throughout the year, aiming for neutrality by year-end.
Volvo Global Electric Vehicle Sales 2024
- In March, Volvo Cars achieved record-breaking sales numbers globally, selling 78,970 vehicles, which is 25% higher than the previous year.
- For the entire first quarter of the year, Volvo sold 182,687 cars worldwide, marking a 12% increase year-over-year.
- As stated by Volvo Statistics, Volvo saw significant growth in sales of plug-in electric vehicles (EVs) in March, reaching a record 33,558 units sold, up 24% from the previous year.
- These EV sales accounted for 42.5% of Volvo’s total sales for the month. The increase was mainly driven by all-electric cars, which set a new monthly record of 18,021 units sold, up 43% year-over-year.
- This performance resulted in EVs comprising 22.8% of Volvo’s total sales in March.
- Meanwhile, sales of plug-in hybrid electric vehicles (PHEVs) also grew, albeit at a slower rate of 8%, reaching 15,537 units in March.
- PHEVs represented 19.7% of Volvo’s total sales volume for the month. However, their share within Volvo’s total sales mix is decreasing compared to EVs.
To sum up Volvo’s Recharge sales for March
- Battery Electric Vehicles (BEVs): 18,021 units, up 43%, with a 22.8% share.
- Plug-in Hybrid Electric Vehicles (PHEVs): 15,537 units, up 8%, with a 19.7% share.
- Total Recharge (BEVs + PHEVs): 33,558 units, up 24%, with a 42.5% share.
- These numbers highlight Volvo’s strong focus on expanding its electric vehicle offerings and increasing its presence in the EV market.
(Source: insideevs.com)
- In the first quarter, Volvo sold nearly 75,000 plug-in cars, marking an 11% increase compared to the previous year.
- These sales represent more than 41% of Volvo’s total sales. Specifically, Volvo sold 38,171 all-electric cars, up 27%.
For their Recharge lineup, which includes both all-electric and plug-in hybrid models:
- All-electric cars (BEVs) accounted for 38,171 sales, up 27%, and made up 20.9% of Recharge sales.
- Plug-in hybrid cars (PHEVs) totaled 36,824 sales, a slight decrease of 1%, comprising 20.2% of their Recharge sales.
- According to Volvo Statistics, Volvo’s recharge models, including BEVs and PHEVs, accounted for 41.1% of its total sales in the first quarter.
(Source: insideevs.com)
- Volvo Statistics stated that most of Volvo’s plug-in cars were sold in Europe, which is typical for their sales distribution.
- In March, Volvo saw a 25% increase in plug-in car sales in the United States compared to the previous year, reaching 3,642 units and capturing a 23.8% market share.
- The introduction of the new Volvo EX30 model has been crucial in boosting Volvo’s electric vehicle (EV) sales.
- Globally, Volvo sold a record 8,681 EX30 units last month, surpassing the combined sales of the previous four months.
Volvo USA Sales By Powertrain, April 2024:
| Powertrain | Apr 24 | Apr 23 | Diff. % | YTD 24* | YTD 23* | Diff. % |
| Mild hybrids/ICE | 7,270 | 6,665 | 9% | 30,133 | 25,437 | 18% |
|
Electrified models |
3,334 | 2,946 | 13% | 11,422 | 10,657 | 7% |
| Fully electric | 328 | 1,356 | -76% | 1,298 | 4,138 |
-69% |
|
Plug-in hybrid |
3,006 | 1,590 | 89% | 10,124 | 6,519 | 55% |
| Total | 10,604 | 9,611 | 10% | 41,555 | 36,094 |
15% |
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Volvo Popularity Statistics
(Reference: quora.com)
- Volvo enjoys great popularity in Sweden, as stated by Volvo Statistics.
- In 2020, Volvo sold more cars than any other brand, making up 18% of the country’s total market share. Volvo produced the top three best-selling vehicle models in Sweden.
Conclusion
As of 2024, Volvo is making significant strides in the automotive sector, particularly with advancements in electric vehicle technology. The launch of models like the C40 Recharge highlights Volvo’s dedication to sustainable mobility. Strong sales in major markets such as Europe and the United States indicate increasing consumer interest in Volvo’s electric lineup.
Looking ahead, Volvo’s emphasis on innovation and sustainability positions it favorably for continued growth and leadership in the industry. We have shed enough light on “Volvo Statistics.”
Sources
Pramod Pawar
Pramod Pawar brings over a decade of SEO expertise to his role as the co-founder of 11Press and Prudour Market Research firm. A B.E. IT graduate from Shivaji University, Pramod has honed his skills in analyzing and writing about statistics pertinent to technology and science. His deep understanding of digital strategies enhances the impactful insights he provides through his work. Outside of his professional endeavors, Pramod enjoys playing cricket and delving into books across various genres, enriching his knowledge and staying inspired. His diverse experiences and interests fuel his innovative approach to statistical research and content creation.
