- Volvo’s electrified fashions, which embrace absolutely electrical and plug-in hybrid autos, accounted for 46% of all gross sales worldwide.
- The XC60 was its best-selling automotive of the 12 months. The EX60, it is absolutely electrical various, is anticipated to go on sale subsequent 12 months.
- Its U.S. EV gross sales dropped sharply because of the EX30’s delays, however PHEV gross sales elevated by almost 70%.
Volvo introduced final 12 months that it had delayed its purpose to go absolutely electrical by the top of the last decade. The best way issues are going, it might nicely have caught to the unique plan.
The automaker bought a file variety of autos globally final 12 months, boosted by its absolutely electrical and intensive plug-in-hybrid line-up. Its complete car gross sales reached 763,389 models, with electrified fashions consuming into its gasoline automotive gross sales. Volvo delivered 175,194 absolutely electrical fashions in 2024, a development of 54% in comparison with the 12 months earlier than. Plug-in hybrid gross sales elevated 16%, reaching 177,593 models.
Picture by: Volvo
Volvo hasn’t launched the person gross sales figures of its automobiles, however the EX30 seemingly helped drive this development. The inexpensive electrical hatchback, lastly on sale within the U.S. after a number of months of delays, has been a gross sales hit in Europe since final 12 months.
Absolutely electrical fashions accounted for 23% of Volvo’s gross sales final 12 months, up from 16% the 12 months earlier than. EVs and PHEVs collectively accounted for 46% of its world gross sales within the 12 months ending December, a brand new file for the model. (In Europe, EVs and PHEVs accounted for 65% of all automotive gross sales.)
PHEVs Shine In The U.S., EV Gross sales Decline
The automaker’s U.S. gross sales don’t fairly replicate its world success. Volvo bought 125,243 automobiles within the U.S. final 12 months, down 3%.
Plug-in hybrid gross sales elevated by almost 70%, however pure EVs dropped 59% to simply 5,608 models. It’s secure to say that the EX30’s delay brought about this drop, along with rising competitors. There’s an inflow of latest and cheap fashions from Basic Motors, Hyundai Motor Group and Honda.
Alternatively, almost each Volvo gasoline mannequin has a plug-in-hybrid various. Quickly, they’ll all have EV options, too.
The EX30 is lastly on sale within the U.S., beginning at $45,000 earlier than vacation spot. It’s nonetheless made in China at Geely Group’s Zhangjiakou plant, so the steep worth outcomes from the 100% tariffs on Chinese language EVs. That’s a steep climb from the initially promised $35,000 price ticket. Now, we’ll see if it finds extra patrons this 12 months. Volvo EVs even have Tesla Supercharger entry with an adapter, so that ought to assist, no less than in principle.
The automaker is responding to market traits with extra EVs and PHEVs within the pipeline. The XC60 was Volvo’s best-selling mannequin final 12 months. Now, its electrical various, the EX60, is within the works. That’s a ground-up software-defined EV using on the next-generation SPA3 platform, powered by the most recent Nvidia chips and extra fashionable batteries. It’s anticipated to launch subsequent 12 months and is a part of 5 new EVs the automaker plans to launch by the top of the last decade.
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