Volvo's global sales in July reached 54,200 units, a year-on-year increase of 21%, and new energy vehicle sales were 18,700 units, a year-on-year increase of 95%

Volvo released news on August 3, announcing global sales data for July. In July this year, Volvo's global new car sales reached 54,165 units, a year-on-year increase of 21%. This is also the eleventh consecutive month that Volvo has achieved year-on-year growth.

New energy vehicle sales reached 18,700 units, a year-on-year increase of 95%; Plug-in hybrid sales were 13,200 units, a year-on-year increase of 65%; pure electric sales were 5,504 units, a year-on-year increase of 248%, accounting for 10.16% of total sales

The company sold 395,856 vehicles globally in the first seven months of 2023, an increase of 18% from the same period last year

In the United States, Volvo Cars sold 10,785 vehicles this month, an increase of 18% from the same period last year An increase of 57%. It is particularly worth mentioning that the sales of new energy vehicles increased by 226%, accounting for 29% of all models sold by Volvo Cars in its second largest market.

The growth of Volvo’s pure electric sales was mainly due to Benefit from European market and American market. In the European market, Volvo sold 2,712 pure electric models in July, a year-on-year increase of 173%, and pure electric models accounted for 13% of sales. In the U.S. market, pure electric sales reached 1,255 vehicles, a year-on-year increase of 1,235%. In addition, overall sales and pure electric sales in other markets have also maintained growth momentum

However, in the Chinese market, Volvo's sales performance was poor, with both total sales and pure electric sales declining. Total sales in July were 14,200 units, down 8% year-on-year; pure electric sales were only 253 units, down 26% year-on-year

In July, Volvo XC60 became its best-selling model with sales of 18,259 units , followed by XC40 with 14,594 sales (10,640 in 2022) and XC90 with 8,640 sales (10,640 in 2022)

The Volvo Group achieved net sales growth in the second quarter of this year , reaching 140.8 billion Swedish krona (approximately 97.568 billion yuan), a year-on-year increase of 18%. Taking into account the impact of currency fluctuations, net sales revenue increased by 11%

Compared with the same period last year, adjusted operating profit was SEK 21.732 billion, with an operating profit margin of 15.4%. This figure excludes charges arising from the previously announced restructuring of Nova Buses and costs related to claims arising from the European Commission’s 2016 antitrust settlement agreement

##The report shows that operating profit was SEK 14.462 billion, an increase from SEK 13.745 billion in the same period last year; the positive impact of exchange rate fluctuations on operating profit was SEK 817 million; earnings per share was SEK 5.30, an increase from SEK 13.745 billion in the same period last year An increase of SEK 5.14; cash flow generated from operating activities in the industrial operations segment was SEK 12.553 billion, an increase from SEK 7.199 billion in the same period last year; return on capital in the industrial operations segment was 30.2%, an increase from SEK 7.199 billion in the same period last year An increase of 26.8%

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