Volvo Cars saw a massive spike in electric car sales this past month. The Swedish automaker posted 346% EV sales growth in June over last year as it builds momentum in the electric era.

Volvo Cars EV sales climb 346% in June

After a hit year in 2022, notching its highest revenue total ($32B) and doubling EV sales, Volvo Cars is carrying its success into 2023.

Volvo closed orders for its new flagship electric SUV, the EX90, in April due to the model year selling out after unveiling it just five months prior.

Through the first three months of the year, Volvo’s fully electric car sales more than doubled (+157%) on the back of only two fully electric models – the XC40 and the C40.

Despite several automakers seeing sales dips, Volvo maintained the progress, with EV sales climbing 88% in April and 196% in May.

This past month, Volvo’s EV sales more than quadrupled (+346%) YOY, signaling there’s no shortage of demand. Volvo’s EV sales totaled 9,535 in June compared to only 2,138 units in June 2022. However, this is just the beginning of Volvo’s electric journey as it progresses toward an all-electric future.

Volvo also released what could be its most significant model yet last month. After several months of teasing, Volvo unveiled its smallest and most affordable model, the EX30 (pictured below), starting at around $35K.

With plans to sell only EVs in just seven years, the EX30 is expected to be a game changer for Volvo as an agile, fun-to-drive small SUV.

The EX30 offers up to 275 miles range, a 26.5-minute fast charge (10% to 80%), and quick acceleration from 0 to 60 mph in 3.4 seconds. Although the EX30 is small in size, Volvo says it will be big on safety to “protect both you and others in hectic urban environments.”

Volvo opened orders for the small SUV in Europe last month while opening pre-orders in the US. The automaker says order books will open for other markets at a later date.