- 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 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 aim 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 document variety of autos globally final yr, boosted by its absolutely electrical and in depth plug-in-hybrid line-up. Its complete automobile gross sales reached 763,389 models, with electrified fashions consuming into its fuel automotive gross sales. Volvo delivered 175,194 absolutely electrical fashions in 2024, a progress of 54% in comparison with the yr earlier than. Plug-in hybrid gross sales elevated 16%, reaching 177,593 models.
Photograph by: Volvo
Volvo hasn’t launched the person gross sales figures of its vehicles, however the EX30 possible helped drive this progress. 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 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 world gross sales within the yr ending December, a brand new document 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 vehicles 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 models. It’s protected to say that the EX30’s delay brought on this drop, along with rising competitors. There’s an inflow of latest and cheap fashions from Common Motors, Hyundai Motor Group and Honda.
Then again, practically each Volvo fuel mannequin has a plug-in-hybrid different. Quickly, they may 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 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, no less than in concept.
The automaker is responding to market tendencies 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 using on the next-generation SPA3 platform, powered by the newest Nvidia chips and extra fashionable 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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