Volvo car sales in Sweden 2009-2023

In 2023, over 41,300 Volvo cars were sold in Sweden. This was a decrease of some 10 percent year-over-year, and the sixth time since 2012 that the company did not experience a rise in sales. Nevertheless, Volvo was actually the leading passenger car brand in Sweden that year, surpassing Volkswagen by more than 8,500 sold passenger cars.

A national and global success

In Latin, Volvo means “I am rolling” - a word which perfectly describes the success of the company. Since the foundation of Volvo in Gothenburg in 1927, the company has continuously expanded its production to a range of different countries and continents, including Europe, China and the US. As of August 2023, Volvo AB and Volvo Car AB accounted for the highest turnovers of companies in Sweden, amounting to nearly 654.3 million Swedish kronor altogether. Furthermore, Volvo is the fourth biggest employer in Sweden, employing roughly 84,000 people.

Conquering China

As a consequence of the automotive industrial crisis from 2008 to 2019, Volvo Cars was sold to the Chinese Holding Group, Geely, in 2009. This was the first time in history that a Western car manufacture was owned by a Chinese company. So which changes might this takeover have for Volvo? While the revenue of Volvo passenger cars amounted to one billion U.S. dollars in China in 2014, sales are expected to stabilize at four billion U.S. dollars as of 2024. That is an impressive increase, since Volvo cars tend to cost more than an average car in China.