Despite being a bit late to the party, Volvo has fully committed to selling electric cars.
Volvo wasn’t exactly early to the EV market, yet their success in it cannot be overstated!
The Swedish automaker, known for its ultra-safe and often family-oriented portfolio of cars, has found that its customers are the perfect market for the adoption of electric vehicles. Along with safety, the brand also has a certain connotation of responsibility and environmental consciousness attached to it, despite Volvo only dipping its toes in the hybrid market in the early 2010s and not further committing until the late 2010s.
With the post-pandemic lifestyle change, computer chip shortages and a fuel shortage perhaps playing a role, Volvo saw fully electric and hybrid models make up 25.5% of their global sales from January to the end of October this year.
Volvo’s drastic pivot to electric and electrified vehicles is evident in its current line-up. The company currently places their cars in three categories; Electric, Hybrids and Mild hybrids (which also include what they call ‘Micro hybrids’). With the three categories being displayed in that order, Volvo’s preference towards electric vehicles has been made clear and it would seem they’re doing all they can to push customers towards purchasing their EV and hybrid models over their more combustion-heavy models.
As expected, of the 25.5% of global sales that were all from Volvo’s Recharge models, only 3.1% (18,000 cars approx) of their global sales were fully-electric models such as the XC40 Recharge. That being said, for the month of October alone, that percentage increased to 5.6% likely making the executives hopeful that growth for EV sales will continue into the future. This small increase is also linked to the planned increase in production for EV models, suggesting that the demand for them is already there.
Further evidence of Volvo’s push to electric is seen in their regional data. Volvo saw an increase of around 58% in their Recharge sales in Europe, an increase of around 100% in China and a substantial increase of around 334% in the US.
Have you considered buying an electric Volvo car? Let us know in the comments.
If you enjoyed this, you may also like: ‘Now That Rolls Royce Has Gone Electric, Who’s Next?’
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