Volvo Car Canada closes 2023 with record sales

The Swedish car brand wrapped 2023 with 25 per cent year-over-year growth and looks ahead to 2024 with the introduction of two new fully electric vehicles as well as a sustainable retail model.

RICHMOND HILL, Ontario, Jan. 09, 2024 (GLOBE NEWSWIRE) — Volvo Car Canada set an all-time annual sales record of 12,865 cars in 2023, a 25 per cent increase over to last year. Sales of Recharge models—those with a fully electric or plug-in hybrid powertrain—accounted for 35 per cent of sales for the year, up 30 per cent compared to the previous year.

In 2023, the company delivered over 4,000 Recharge vehicles to customers in Canada, a significant step as the company works towards its global ambitions of selling only fully electric cars by 2030 and becoming climate neutral by 2040.

Volvo Car Canada is targeting continued growth for 2024 with the introduction of two new fully electric models: the Volvo EX90 seven-seat flagship SUV and the company’s smallest ever SUV, the Volvo EX30. Both vehicles will use next-generation electric architectures with advanced battery and computing technologies.

Enhanced customer journey

Online sales in Canada increased 40 per cent in 2023, a trend Volvo Car Canada predicts will continue into 2024 as it continues to meet consumer demand with its One Price Promise sales model, a streamlined and transparent shopping experience that’s negotiation-free, both online and in-store.

A more sustainable retailer experience

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Volvo Car Canada retailers are supporting the company’s sustainability efforts through investments in state-of-the-art Volvo Retailer Sustainability Experience (VRSE) facilities. VRSE stores are powered by renewable energy and built according to industry-leading environmental standards. The first two locations opened in 2023—Volvo Cars Richmond and Park Avenue Volvo Cars Brossard—with additional facilities being added this year.

“We are proud of the strides we’ve made as a company this year from enhancing the customer experience to working towards our ambitious electrification goals while setting sales and performance records,” said Matt Girgis, President, Volvo Car Canada. “I’d like to thank our retail partners and loyal customers for allowing us for their commitment to Volvo Cars and their support in our growth journey.”

About Volvo Car Canada Ltd.

Volvo Car Canada Ltd. (VCCL) is a subsidiary of Volvo Car Group of Gothenburg, Sweden. VCCL provides marketing, sales, parts, service, technology, and training support to the 37 Volvo automobile retailers across Canada. For more information, please refer to the Volvo Cars Canada media website at www.media.volvocars.com/ca/en-ca

For more information:

Holly Wilks, Narrative, [email protected]