VFACTS December 2022: Volvo Australia cracks 10,000 sales to set record

Volvo Australia has passed 10,000 sales for the first time in a year after achieving almost 20 per cent year-on-year growth.

The Swedish luxury brand has continued its aggressive growth locally after another 980 sales in December contributed to a total of 10,715 units in 2022.

The result placed Volvo fourth in the luxury-brand pecking order, behind Mercedes-Benz, BMW, and Audi.

Volvo outsold the likes of Lexus (7089 units), Porsche (5608), and Jaguar (700).

The XC40, XC60 and XC90 SUVs continue to dominate Volvo’s showroom, led by the compact XC40, which last year accounted for almost half of the brand’s sales – up 38 per cent to 5119 units.

Combined, the XC40, XC60 and XC90 accounted for 92 per cent of the company’s sales in 2022 locally.

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The electric-only C40 (above), a coupe relative of the XC40 released at the end of 2022, registered 491 sales across November and December.

The brand’s only passenger vehicles, the S60 sedan and V60 Cross Country wagon, registered 222 and 160 units last year respectively. The S60 was the second biggest growth model for Volvo, up 32 per cent year on year.

Volvo sales in Australia have grown nearly 130 per cent in the past five years, having registered 4681 sales in 2017.

It sold 9028 units here in 2021 after the persistent COVID-19 pandemic scuppered its stated ambition of reaching five figures that year.

Volvo Australia is targeting 20,000 sales by 2026 – the year it says it will become an all-electric brand, four years ahead of the Swedish carmaker’s global timeframe.

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Volvo V60 Cross Country

Volvo Australia sales: 2012-2022