Tag Archives: global

MRR

Global Automotive Artificial Intelligence Strategic Business Report 2023: The Age of AI Has Arrived & Here’s How it Promises to Revolutionize Automobiles

Global Automotive Artificial Intelligence Strategic Business Report 2023: The Age of AI Has Arrived & Here’s How it Promises to Revolutionize Automobiles

DUBLIN, June 16, 2023 /PRNewswire/ — The “Automotive Artificial Intelligence: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.

Global Automotive Artificial Intelligence Market to Reach $14.8 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Automotive Artificial Intelligence estimated at $3.2 Billion in the year 2022, is projected to reach a revised size of $14.8 Billion by 2030, growing at a CAGR of 20.9% over the analysis period 2022-2030.

Software, one of the segments analyzed in the report, is projected to record 22.5% CAGR and reach $9.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Hardware segment is readjusted to a revised 18.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.2 Billion, While China is Forecast to Grow at 23.1% CAGR

The Automotive Artificial Intelligence market in the U.S. is estimated at $1.2 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of $2.4 Billion by the year 2030 trailing a CAGR of 23.1% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.3% and 18.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 20.3% CAGR.

Looking Ahead to 2023

Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.

Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.

Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What’s New for 2023?

– Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its ‘bumpy’ reopening; supply chain disruptions, global trade tensions; and risk of recession.
– Global competitiveness and key competitor percentage market shares
– Market presence across multiple geographies – Strong/Active/Niche/Trivial
– Online interactive peer-to-peer collaborative bespoke updates
– Access to digital archives and Research Platform
– Complimentary updates for one year

Key Topics Covered:

MARKET OVERVIEW
– The Age of AI Has Arrived & Here’s How it Promises to Revolutionize Automobiles
– Evolution & Growth of AI as Measured by the Robust Spending on AI Enablement, Primes the Technology for Use in Automobiles: Global Market for Artificial Intelligence (AI) (In US$ Billion) for Years 2021, 2023, 2025 & 2027
– How & Where is AI Used in the Automobile Industry?: % Breakdown of Automotive AI Spending by Application Area as of the Year 2022
– Global Economic Update
– Competition
– Automotive Artificial Intelligence – Global Key Competitors Percentage Market Share in 2022 (E)
– Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
– Automotive Artificial Intelligence: Global Market Prospects & Outlook
– World Brands
– Recent Market Activity
– Innovations

MARKET TRENDS & DRIVERS
– Growing Demand for Connected & Safe In-Car Infotainment Systems to Expand Use of AI Technology in Vehicles
– AI Integration into In-Vehicle Infotainment Systems Gathers Momentum, Supported by Strong Demand for Intuitive, Smarter & Safer Systems: Global Automotive Infotainment Market Opportunity (in US$ Billion) by Geographic Region for the Years 2021, 2023, 2025 and 2027
– Swift Progress Towards Autonomous Vehicle Commercialization to Drive the Importance of AI Technology
– Exhibit Global Autonomous Vehicle Sales (In Million) for Years 2020, 2025 & 2030
– Against the Backdrop of Rising Automobile Thefts, AI Makes It Presence Felt in the Vehicle Access Control Space
– As the Number of Cars Stolen Each Year Increases, AI Emerges Into the Spotlight for its Ability to Make Vehicle Access Control Systems More Fool Proof: Vehicle Thefts (In 000 Vehicles) in the United States for the Years 2019 through 2022
– Motor Vehicle Theft in the United States by Area Type as of the Year 2022
– Growing Popularity of In-Car Payments Bodes Well for the Adoption of AI in Automobiles
– The Need for Intuitive & Safer Vehicle HMI Solutions Drives the Use of AI
– Robust Innovations in the Automotive HMI Market Bodes Well for Adoption of AI Technology in HMI R&D, Design and Development: Global Market for Automotive HMI (In US$ Billion) for Years 2022, 2024, 2026, 2028 and 2030
– Focus on Driver Behavior Intelligence Expands the Role of AI in Driver Monitoring
– Here’s How AI Enables Secure Vehicular Communication in the Era of Internet of Cars

FOCUS ON SELECT PLAYERS (Total 133 Featured)
– Argo AI, LLC
– Ather Energy
– Audi AG
– Automotive Artificial Intelligence (AAI) GmbH
– BMW AG
– Mercedes-Benz Group AG
– Ford Motor Company
– General Motors Company
– German Autolabs
– Harman International Industries Inc.
– Honda Motor Co. Ltd.
– Hyundai Motor Corporation
– IBM Corporation
– iGloble Software Solutions Pvt. Ltd.
– Intel Corporation
– Micron Technology, Inc.
– Microsoft Corporation
– Mitsubishi Electric Corporation
– Motional, Inc.
– Nauto
– Nvidia Corporation
– Qualcomm Inc.
– Refraction AI
– SapientX, Inc.
– Soniclue
– Tesla Inc.
– Tractable (UK)
– Uber Technologies Inc.
– Volvo Car Corporation
– Xilinx Inc.

For more information about this report visit https://www.researchandmarkets.com/r/qlu8eg

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets

MRR

Global Natural Gas Vehicles (NGVs) Strategic Business Report 2023: Stringent Vehicular Emission Norms Throws the Focus Squarely on NGVs

Global Natural Gas Vehicles (NGVs) Strategic Business Report 2023: Stringent Vehicular Emission Norms Throws the Focus Squarely on NGVs

DUBLIN, June 16, 2023 /PRNewswire/ — The “Natural Gas Vehicles (NGVs): Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.

The global market for Natural Gas Vehicles (NGVs) estimated at 25.2 Million Units in the year 2022, is projected to reach a revised size of 42.3 Million Units by 2030, growing at a CAGR of 6.7% over the analysis period 2022-2030.

Light Duty Vehicles, one of the segments analyzed in the report, is projected to record a 6.8% CAGR and reach 39 Million Units by the end of the analysis period.

Taking into account the ongoing post-pandemic recovery, growth in the Medium & Heavy Duty Trucks segment is readjusted to a revised 6% CAGR for the next 8-year period.

The U.S. Market is Estimated at 172.2 Thousand Units, While China is Forecast to Grow at 7.4% CAGR

The Natural Gas Vehicles (NGVs) market in the U.S. is estimated at 172.2 Thousand Units in the year 2022. China, the world’s second-largest economy, is forecast to reach a projected market size of 9.9 Million Units by the year 2030 trailing a CAGR of 7.4% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.9% and 5.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 11.6 Million Units by the year 2030.

Select Competitors (Total 55 Featured) –
AB Volvo
Bajaj Auto Limited
Bayerische Motoren Werke AG
CNH Industrial N.V.
Daimler AG
Dongfeng Motor Corporation
Ford Motor Company
General Motors Company
Landi Renzo S.p.A.
Opel Automobile GmbH
PACCAR Inc.
Tata Motors Limited

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
– Influencer Market Insights
– World Market Trajectories
– Natural Gas Vehicles (NGVs) – Global Key Competitors Percentage Market Share in 2022 (E)
– Difficult to Reduce Carbon Footprint of the Automotive Industry Shifts Focus to Alternate Fuel Vehicles
– Inability of Conventional ICE Powered Vehicles to Demonstrate Desired Reductions in CO2 Emissions to Drive the Focus on Alternative Fuel Vehicles: Official Laboratory CO2 Reduction Claims Vs On-Road Emission Efficiency (In Grams per Kilometer) for the Years 2008, 2010, 2012, 2014, 2016, 2018, and 2020
– Year 2020 Has Been a Year of Astounding Disruption & Unbelievable Transformation
– COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019 to 2022
– Continued High Unemployment Levels Challenges Growth in Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
– As Mass Vaccination Drives Get Underway Worldwide, Will It Change the Existing Economic Realities? & Is it Really the Silver Bullet We Were Waiting For?
– How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: Global Number of COVID-19 Vaccinations (Per 100 People) As of February 2021 by country
– Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
– How the Automotive & Clean-Tech Industries Are Impacted by the Pandemic & What’s the New Normal?
– The Automotive Industry
– Global Automotive Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
– Clean Technologies
– A Strong Rebound in Clean Technologies Brings Good News for NGVs: Global Clean Technologies Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
– Natural Gas Vehicles (NGVs) – Definition & Scope
– Recent Market Activity
– Innovations
– Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
– Growing Global Focus on Decarbonizing the World Offers Attractive Opportunities for NGVs in Decarbonizing the Transportation Sector
– Stringent Vehicular Emission Norms Throws the Focus Squarely on NGVs
– A Review of Environmental & Emission Norms Legislated Till Date
– With Transportation Accounting for Close to 23.2% of Global GHG Emissions, the Time is Ripe for the Adoption of an Integrated Approach Towards Reducing CO2 Involving NGVs: Global CO2 Emissions (In Billion Metric Tons) for the Year 2021
– Post COVID-19 Focus on Sustainability Will Drive NGV Adoption in Creating a Cleaner & Greener Transportation Industry
– Here’s Why the Environment & Sustainability Will be Top Priorities After the Pandemic
– Compliance Standards for Reducing Emissions from Vehicles to Become Stricter, Post Pandemic Global GHG Emissions from Transportation (In Billion Tons of CO2) for the Year 2021
– How NGVs Can Help Address the Sustainability Challenge?
– Cost Benefits, Environmental Motives and Government Incentives Catalyze Adoption Rates of NGVs
– Commercial Vehicle Fleet Owners Adopt NGVs to Meet Carbon Footprint Goals & Drive Profits Through Higher Fuel Economy
– Rising Popularity of EVs. What Does it Mean for NGVs
– Global EV Market Outlook
– Growing Number of EVs On Road, Will It Dislodge Technology Investments in NGVs: Number of EVs On Road Worldwide by Type (In 000 Units) for the Years 2019 and 2022
– NGVs Will Continue to Have a Future Alongside EVs, Here’s Why?
– Initiatives Undertaken for the Development of Fueling Infrastructure Spurs NGV Penetration
– Bio-CNG Vehicles Emerge to Counter the Methane Emission Threat Posed by NGVs
– Cost Pressures in the Logistics Industry Spurs Market Opportunities for Natural Gas as a Cost-Effective Alternate Fuel
– Focus on Road Infrastructure Development Post Pandemic to Ensure Sustained Growth of NGVs in Road Freight Transportation
– Continuous Development of World’s Highways to Expand Market Opportunities for Commercial Vehicle NGVs: Length of Road Networks (In 000 Kilometers) in Top 15 Countries Worldwide for the Year 2020
– Natural Gas Market Outlook
– How Shale Gas Revolution Has Lowered Natural Gas Prices?
– Despite the Strengthening of Prices Post 2020 Crisis, Natural Gas Still Remains Cheap
– Growing Competition from Liquid Biofuels Pose a Challenge to Market Prospects

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/931zkb

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products, and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets

Lamborghini

Lamborghini The Real Race – Super Trofeo Esports

The global search for the best sim racing talent continues for a fourth season in 2023

Sant’Agata Bolognese, 31st May 2023 – The Real Race – Super Trofeo Esports season in 2023 is the fourth edition of the virtual contest for Lamborghini fans worldwide. The competition now takes place on the Assetto Corsa Competizione platform and introduces new format changes. It offers participants the opportunity to compete against elite Esport talent from three different continents.

The Real Race – Super Trofeo Esports showcases the latest Lamborghini Huracán Super Trofeo EVO2 race car and represents Lamborghini’s commitment to authenticity, bravery, and unexpectedness in the world of Esports.

Format changes for 2023

This season, aspiring Esport talents can demonstrate their skills live at famous racing venues in Europe. The Fanatec Arena, located at select racing venues hosting the Fanatec GT World Challenge Europe Powered by AWS, allows the public to experience cutting-edge racing simulations. The fastest driver from each event earns a wildcard entry into The Real Race – Super Trofeo Esports Grand Final.

On-site locations:

  • Circuit Paul Ricard | June 3rd
  • Circuit of Spa-Francorchamps | July 2nd
  • Nürburgring | July 29th

In addition to the on-site activations, drivers from the European region can participate in a four-round online racing series. Prior to each standalone racing event, there will be a hot-stint competition. The NALA and APAC regions will also have their hot-stint qualifications followed by regional finals with the top 24 drivers from each region.

Moreover, the Lamborghini Abu Dhabi and Dubai dealers have partnered with the Real Race program to organize a simulator tour, scouting for the best student racing “drivers” in Abu Dhabi and Dubai’s leading schools and universities. The top three students will represent the UAE in the tournament final.

For European drivers, the challenge is to qualify for each race through a leaderboard hot-stint competition. The top 24 drivers advance to a standalone race using the Assetto Corsa Competizione simulation. The top four finishers from each race earn a spot in the on-site final at the Nürburgring Grand Prix Circuit.

The final grid will consist of the 16 qualified drivers, one wildcard qualifier from each on-site activation, and the three qualifiers from Lamborghini Abu Dhabi and Dubai. These European finalists and wildcard entrants will compete in an on-site grand final at the Fanatec Arena during the GT World Challenge race weekend at the Nürburgring Grand Prix Circuit.

A ‘money can’t buy’ prize

The ultimate goal for participants in The Real Race – Super Trofeo Esports series is to win the Grand Final and secure a money-can’t-buy opportunity to become a factory driver in the new Automobili Lamborghini Esports Team. The winners from the NALA and APAC regions will also join the Lamborghini family as proud representatives of the brand in their respective regions.

This tournament expands Lamborghini’s presence in international virtual motorsport, transforming the lives and careers of those who can rise to the top of the Esports racing podium.

Schedule

The Real Race – Super Trofeo Esports season kicks off in June for European competitors and in August for APAC and NALA participants.

European Hot-stint Qualification
Circuit Paul Ricard
Start: June 5th at 11:00 CEST / End: June 12th at 10:00 CEST

Monza Grand Prix Circuit
Start: June 12th at 11:00 CEST / End: June 19th at 10:00 CEST

Circuit de Barcelona-Catalunya
Start: June 19th at 11:00 CEST / End June 26th at 10:00 CEST

Circuit de Spa-Francorchamps
Start June 26th at 11:00 CEST / End: July 3rd at 10:00 CEST

European Qualification Races
Race 1 – Paul Ricard   June 15th at 19:30 CEST
Race 2 – Monza           June 22nd at 19:30 CEST
Race 3 – Barcelona     June 29th at 19:30 CEST 
Race 4 – Spa               July 6th at 19:30 CEST

NALA Hot-stint Qualifying
Indianapolis
Start August 14th at 10:00 CEST / End August 28th at 10:00 CEST

APAC Hot-stint Qualifying
Suzuka
Start August 17th at 10:00 CEST / End August 31st at 10:00 CEST

European Regional Final (on-site) 
Date: July 30th 2023
Race 1 – Nürburgring Grand Prix Circuit 
Race 2 – Nürburgring Grand Prix Circuit

NALA Regional Final (online) 
Date: September 2nd 2023
Race 1 – Indianapolis Motor Speedway Grand Prix Course 
Race 2 – Indianapolis Motor Speedway Grand Prix Course

APAC Regional Final (online) 
Date: September 6th 2023
Race 1 – Suzuka Circuit 
Race 2 – Suzuka Circuit

Live Streaming and Official Website

All events of The Real Race – Super Trofeo Esports will be broadcast live and exclusively on the official Lamborghini Squadra Corse YouTube and social media channels. For more information about the series, visit the official website: https://esports.lamborghini/.

The Real Race Official Technical Partner: Assetto Corsa Competizione

Assetto Corsa Competizione is the official GT World Challenge video game. It offers a high-quality simulation experience, allowing players to compete against official drivers, teams, cars, and circuits of the FIA GT3 homologated championship. The game features realistic weather conditions, graphics, motion capture animations, and driving physics. It sets a new standard for driving realism and immersion.

About AK Esports

Ak Esports is an Italian company specialized in organizing Esports competitions, managing Esports teams, and hosting events across Europe, with a focus on Sim Racing. Founded by Ak Informatica, experts in PC gaming since 2004, the company has steadily grown by working with the latest technology and gaming titles to develop Esports Entertainment. AK Esports has collaborated with various car manufacturers and, in partnership with SRO Motorsport Group and Kunos Simulazioni, created the first SRO Esports Championship in 2019. Learn more about AK at www.akesports.it.

BMW

Postcard Story: The MINI Cooper SE in Oxfordshire

Require assistance? To get help, please get in touch with our support team between 9 AM to 5 PM CET via support.pressclub@bmwgroup.com.

PressClub Global · Article.

Wed Jun 14 00:01:00 CEST 2023 Press Release

With its lively electric motor and nimble frame, the electric MINI in the stunning Chili Red hue is a head-turner traversing the streets of Oxford. The compact car is capable of cruising through the tight streets of the old town with ease.

The brand’s classic go-kart sensation is achievable with the electric MINI offering uninterrupted acceleration from 0 to 100 km/h in 7.3 seconds, resulting in an incredible driving experience on the streets of Oxford. The sporty design of the MINI Cooper SE is topped off by the 17″ MINI Electric Power Spoke, which has a two-tone wheel.

Motorsport

The Most And Least Advanced Motor Industries Around The World

The global automotive industry can change dramatically from one country to another. Between 80 and 90 million new cars are sold every year in the 195 countries of the world. More than half of these cars (54 percent) are located in Asia, as is the majority of the world’s population (59 percent). Other regions such as the United States and Canada account for only 5 percent of the world’s population, but 19 percent of vehicle sales.

The industry has many faces depending on where you are. Some are quite developed in terms of technology. Other countries are lagging behind in terms of regulations and the importance of the sector within the GDP.

Who Is Ahead?

The European Union and the United Kingdom, the United States, Japan, Korea, and China are very well positioned. They have a strong regulatory, trade, tax, manufacturing, and R&D structure. That’s why almost all the new cars that are presented come from these markets.

Both automakers and consumers can take advantage of the best conditions to sell, buy, and drive cars. The authorities are moving in harmony with the industry to improve development and innovation, although in Europe, the 2035 lawsuit is now holding court.

The Stellantis Factory In Tychy Poland

The Stellantis Factory In Tychy, Poland

Who Is Working Hard?

Behind these markets are countries working hard to become attractive for foreign investment. India, Southeast Asia, North Africa, South Africa, and some Latin American markets are improving their automotive landscape by introducing more efficient and flexible regulations and making it easier for automakers to invest.

However, there are still issues related to import taxation and population income that make it difficult for developed economies to keep pace. Brazil, for example, has a strong manufacturing hub, but is unable to adopt the latest technologies because most consumers cannot afford them. However, India is close when it comes to regulations.

The BMW Rosslyn Plant In South Africa

The BMW Rosslyn Plant In South Africa

The Worst Countries For The Automotive Industry

Countries with the poorest automotive industries are usually those isolated in terms of trade, or where local production is nearly impossible due to lack of infrastructure and support from local authorities.

This is the case of Iran, for example. Its economy is largely blocked by international sanctions which make it almost impossible to import new and competitive cars at competitive prices. It is also very difficult to produce locally due to a lack of components and access to international technology. All cars produced in Iran today are rebadged older-tech models no longer produced in Western economies.

A large part of the African continent is also experiencing great difficulties. The heavy presence of used car imports puts new cars in a very difficult position, considering the very low income of the population. Most Africans cannot afford a new vehicle. The result? The streets are filled with polluting cars and old technology.

The Russian Case

Russia is also heading towards a difficult situation. As Western automakers have abandoned this market after the invasion of Ukraine, local production is shrinking to a handful of small companies that lack the technology to compete in global markets.

AVTOVAZ Plant In Russia

AVTOVAZ Plant In Russia

Furthermore, it is slowly becoming a satellite market for Chinese manufacturers, which means that consumers will not have much choice in the foreseeable future.

The author of the article, Felipe Munoz, is an Automotive Industry Specialist at JATO Dynamics.

BMW

Postcard Story: The Uncharted Edition of MINI Cooper S Countryman ALL4

Do you need assistance? You can contact our support team via support.pressclub@bmwgroup.com between 9 and 17 CET.

PressClub Global · Article.

Tue May 30 00:01:00 CEST 2023 Press Release

The Uncharted Edition’s unique paint finish on the MINI Cooper S Countryman ALL4 perfectly showcases the car’s versatility, providing driving pleasure on any terrain with its all-wheel drive feature.

The MINI Cooper S Countryman ALL4’s enhanced traction and stability make it an excellent drive on sandy roads. The Uncharted Edition gives this untamed adventurer an exclusive and distinctive look. The car’s potent engine and all-wheel drive make it an excellent off-road performer, providing 131 kW/178 hp through its four-cylinder engine with MINI TwinPower Turbo technology, ensuring a distinctive, dynamic driving experience.

VolvoCars

Volvo Cars global sales up 31 per cent in May

Volvo Cars reports global sales of 60,398 cars in May, up 31 per cent compared with the same month last year. The company’s fully electric cars were the main contributor to the growth, rising 196 per cent during the period. Furthermore, figures from May 2022 were negatively affected by lower production due to last year’s supply chain constraints.

For the first five months of the year, Volvo Cars sales reached 275,312 cars, up 14 per cent compared with the same period during 2022. 

Sales of Volvo Cars’ Recharge models of fully electric and plug-in hybrid cars increased by 55 per cent in May, accounting for 40 per cent of all Volvo cars sold globally during the month. The share of fully electric cars stood at 18 per cent. 

Sales in Europe for May reached 26,272 cars, an increase of 40 per cent compared with last year. The share of Recharge models reached 63 per cent of overall sales in the region and the share of fully electric cars ended up at 29 per cent.

US sales grew by 14 per cent in May to 10,723 cars. The share of Recharge models reached 28 per cent of overall sales and sales of fully electric cars increased by 66 per cent compared with last year.

In China, sales reached 14,121 cars, an increase of 49 per cent compared with the same month last year. Sales of Volvo Cars’ Recharge models grew by 116 per cent, accounting for 8 per cent of the total sales in China.

In May, the Volvo XC60 was the top-selling model with sales of 18,052 cars (2022: 15,117 units), followed by the XC40 with total sales at 17,596 cars (2022: 12,097 units) and the XC90 at 9,058 cars (2022: 8,790 units).

 

May

May

Jan-May

Jan-May

 

2023

2022

Change

2023

2022

Change

 

 

 

 

 

 

 

Europe

26,272

18,752

40%

119,747

103,731

15%

Recharge

16,481

8,813

87%

74,552

53,120

40%

 – Fully electric

7,655

1,847

314%

34,130

12,171

180%

 – Plug-in hybrid

8,826

6,966

27%

40,422

40,949

-1%

 

 

 

 

 

 

 

China

14,121

9,488

49%

63,121

53,765

17%

Recharge

1,181

547

116%

6,271

4,367

44%

 – Fully electric

263

143

84%

1,531

768

99%

 – Plug-in hybrid

918

404

127%

4,740

3,599

32%
             

US

10,723

9,372

14%

46,817

42,151

11%

Recharge

3,039

3,348

-9%

13,696

13,787

-1%

 – Fully electric

1,342

807

66%

5,480

3,258

68%

 – Plug-in hybrid

1,697

2,541

-33%

8,216

10,529

-22%
             

Other

9,282

8,340

11%

45,627

41,750

9%

Recharge

3,266

2,737

19%

17,479

12,042

45%

 – Fully electric

1,566

855

83%

8,584

3,885

121%

 – Plug-in hybrid

1,700

1,882

-10%

8,895

8,157

9%
             

Total

60,398

45,952

31%

275,312

241,397

14%

Recharge

23,967

15,445

55%

111,998

83,316

34%

 – Fully electric

10,826

3,652

196%

49,725

20,082

148%

 – Plug-in hybrid

13,141

11,793

11%

62,273

63,234

-2%