Volvo Cars reported on Monday that its global sales increased by 31% in May compared to the same month last year. The company sold 60,398 cars in May, up from 46,125 in May 2022.
Volvo Cars' sales were strong in all regions in May. The Americas saw the biggest increase, with sales up 52% year-on-year. Europe saw sales increase by 29%, and Asia Pacific saw sales increase by 16%.
Volvo Cars' sales of fully electric cars also increased significantly in May. The company sold 10,826 fully electric cars in May, up from 5,413 in May 2022.
Volvo Cars CEO Jim Rowan said that the company is "very pleased" with its sales performance in May. He said that the company's strong sales are a result of its "continued focus on electrification and its growing global presence."
Rowan said that Volvo Cars is "on track" to achieve its goal of selling 1.2 million cars by 2025, half of which will be fully electric. He said that the company is also "confident" in its ability to achieve its goal of becoming a climate-neutral company by 2040.
Volvo Cars' sales performance in May is a positive sign for the company. The company's focus on electrification and its growing global presence are helping to drive sales. Volvo Cars is on track to achieve its ambitious goals for 2025 and 2040.
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