Volvo Cars Achieves Record-Breaking Year in 2023
March 9, 2024, 11:40 am
Volvo Car AB (publ.) has published its Annual and Sustainability Report for 2023, showcasing a year of unprecedented success. With record-breaking sales, revenues, and operating profits, Volvo Cars has solidified its position as a leader in the automotive industry.
In 2023, Volvo Cars saw a surge in sales, with a new all-time high of 708,716 cars sold. This remarkable achievement led to a 21% increase in revenues, totaling SEK 399.3 billion for the year. The company's underlying operating profit also soared to SEK 25.6 billion, marking a 43% increase compared to the previous year.
One of the standout accomplishments for Volvo Cars in 2023 was the sale of 113,419 fully electric cars, representing a 70% increase from 2022. This significant growth in electric vehicle sales contributed to Volvo Cars' global market share, which saw a 34% increase compared to the previous year.
With a strong focus on sustainability, Volvo Cars has integrated sustainability reporting into its Annual and Sustainability Report, aligning with the Global Reporting Initiative (GRI) standards. The company's commitment to reducing its carbon footprint is evident in its ambition to become a fully electric car maker by 2030 and achieve climate neutrality by 2040.
As Volvo Cars continues to drive towards a more sustainable future, its dedication to providing customers with a personal, sustainable, and safe driving experience remains unwavering. With a workforce of approximately 43,400 employees and production plants located around the world, Volvo Cars is poised to lead the charge towards a greener automotive industry.
In a year marked by exceptional achievements and a clear commitment to sustainability, Volvo Cars has set a new standard for success in the automotive sector. As the company looks towards the future, its vision of creating a world where people can move freely in a sustainable and safe manner is becoming a reality.
In 2023, Volvo Cars saw a surge in sales, with a new all-time high of 708,716 cars sold. This remarkable achievement led to a 21% increase in revenues, totaling SEK 399.3 billion for the year. The company's underlying operating profit also soared to SEK 25.6 billion, marking a 43% increase compared to the previous year.
One of the standout accomplishments for Volvo Cars in 2023 was the sale of 113,419 fully electric cars, representing a 70% increase from 2022. This significant growth in electric vehicle sales contributed to Volvo Cars' global market share, which saw a 34% increase compared to the previous year.
With a strong focus on sustainability, Volvo Cars has integrated sustainability reporting into its Annual and Sustainability Report, aligning with the Global Reporting Initiative (GRI) standards. The company's commitment to reducing its carbon footprint is evident in its ambition to become a fully electric car maker by 2030 and achieve climate neutrality by 2040.
As Volvo Cars continues to drive towards a more sustainable future, its dedication to providing customers with a personal, sustainable, and safe driving experience remains unwavering. With a workforce of approximately 43,400 employees and production plants located around the world, Volvo Cars is poised to lead the charge towards a greener automotive industry.
In a year marked by exceptional achievements and a clear commitment to sustainability, Volvo Cars has set a new standard for success in the automotive sector. As the company looks towards the future, its vision of creating a world where people can move freely in a sustainable and safe manner is becoming a reality.