Volvo Cars reported its fourteenth consecutive month of rising sales in October 2023, which it said are driven primarily by strong demand for its electric vehicles. Global sales reached 59,861 cars in October, a 10% increase versus the same period last year. Sales of fully electric vehicles grew 29%, compared to the same time last year, and made up 18% of total volume, compared to just 12% in October 2022. Year-to-date, Volvo has sold 569,019 cars globally, up 18% versus the first 10 months of 2022. Electrified Recharge models accounted for 36% of sales in October, Volvo Cars said.

In Europe, over half of Volvo’s 24,892 cars sold were Recharge models. Fully electric car sales in the US increased 49% in October and comprised 27% of the 11,296 cars sold.

Volvo aims to become a fully electric car company by 2030. The growth in EV sales puts Volvo on track to meet its electrification goals and cement its position as an EV leader, it said.