Good news for Volvo. The results of Volvo’s performance report in the first quarter of 2023 are gratifying.

In recent years, the domestic automobile market has ushered in remarkable changes. Many automobile brands have anchored high-end, focused on electrification, and are constantly moving towards high-end electrification. And some car companies, with keen market insight, took the lead in deep layout of high-end electrification strategy and won at the starting line. Volvo, for example, has won unanimous praise from many consumers for its outstanding product quality, leading safety performance and technically excellent pure electric platform.

Recently, Volvo Car announced its performance report for the first quarter of 2023: the company’s revenue in the first quarter reached 95.7 billion Swedish kronor, a year-on-year increase of 29%; Operating profit (excluding joint ventures and associated companies) reached SEK 6.3 billion, up 7% year-on-year, with a profit margin of 6.6%. According to the performance report, the global sales of Volvo Cars reached 162,938 vehicles in the first quarter, up 10% year-on-year, which is at a strong level in history. Among them, the sales of pure electric vehicles increased by 157% year-on-year, accounting for 18% of the total sales, far exceeding the 8% in the same period last year.

It can be seen from this battle report that behind Volvo’s high performance in the first quarter of 2023, it is inseparable from the strong sales of pure electric vehicles. The bright performance of pure electric vehicles of Volvo Cars fully confirms the strong demand for high-end electrified products in the global market. It is reported that in 2023, Volvo Cars will also launch a brand-new pure electric small SUV, opening up a brand-new market segment and bringing more car purchase options to users.

In the future, Volvo Cars also plans to launch at least one pure electric vehicle every year and continuously expand the brand pure electric product matrix. Moreover, Volvo Cars also guarantees that the new car will be built on a brand-new native pure electric platform and a centralized electronic and electrical architecture. This indicates that Volvo Cars is firmly moving towards the goal of becoming a pure electric luxury brand in 2030.

Moreover, in terms of sustainable development, Volvo Cars is still firmly implementing the strategic plan of electrification transformation. In the first quarter of this year, carbon emissions decreased by 20% compared with 2018, and the goal of reducing carbon emissions by an average of 40% in the whole life cycle of each car in 2025 is steadily moving forward. Not only that, in the context of the electrification transformation of the industry, Volvo Cars has always been determined to transform towards electrification, change to intelligence, advance to high-end, and create a new pattern of brand development.

Facing the industry development trend of electrification transformation, Volvo Cars has always been firm in its initial intention and demonstrated its brand belief of energy-saving and low-carbon transformation and development with diversified product strength. I believe that in the future, Volvo Cars will continue to forge ahead towards this goal.