- Volvo’s electrified fashions, which embody absolutely electrical and plug-in hybrid autos, accounted for 46% of all gross sales worldwide.
- The XC60 was its best-selling automotive of the yr. The EX60, it is absolutely electrical different, is predicted to go on sale subsequent yr.
- Its U.S. EV gross sales dropped sharply as a result of EX30’s delays, however PHEV gross sales elevated by practically 70%.
Volvo introduced final yr that it had delayed its purpose to go absolutely electrical by the top of the last decade. The way in which issues are going, it could nicely have caught to the unique plan.
The automaker offered a report variety of autos globally final yr, boosted by its absolutely electrical and intensive plug-in-hybrid line-up. Its complete automobile gross sales reached 763,389 items, with electrified fashions consuming into its fuel automotive gross sales. Volvo delivered 175,194 absolutely electrical fashions in 2024, a development of 54% in comparison with the yr earlier than. Plug-in hybrid gross sales elevated 16%, reaching 177,593 items.
Picture by: Volvo
Volvo hasn’t launched the person gross sales figures of its automobiles, however the EX30 probably helped drive this development. The reasonably priced 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 yr.
Absolutely electrical fashions accounted for 23% of Volvo’s gross sales final yr, up from 16% the yr earlier than. EVs and PHEVs collectively accounted for 46% of its international gross sales within the yr ending December, a brand new report 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 mirror its international success. Volvo offered 125,243 automobiles within the U.S. final yr, down 3%.
Plug-in hybrid gross sales elevated by practically 70%, however pure EVs dropped 59% to simply 5,608 items. It’s secure to say that the EX30’s delay precipitated this drop, along with rising competitors. There’s an inflow of latest and cheap fashions from Normal Motors, Hyundai Motor Group and Honda.
Then again, practically each Volvo fuel mannequin has a plug-in-hybrid different. Quickly, they’ll all have EV alternate 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 value 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 yr. Volvo EVs even have Tesla Supercharger entry with an adapter, so that ought to assist, a minimum of 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 yr. Now, its electrical different, the EX60, is within the works. That’s a ground-up software-defined EV driving on the next-generation SPA3 platform, powered by the most recent Nvidia chips and extra trendy batteries. It’s anticipated to launch subsequent yr and is a part of 5 new EVs the automaker plans to launch by the top of the last decade.
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