Volvo Reaches 44% Plugin Automobiles

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Full battery-powered electrical autos (BEVs) accounted for simply 7.2% of the US auto market final 12 months, in comparison with 16% in Europe, 25% in China, and 11% globally. Simply statistically talking, the US isn’t pulling the EV market ahead. So, typically it’s laborious to see how a lot a automotive firm is doing overseas or globally to impress if it isn’t a pacesetter available in the market right here. Living proof: Stellantis. Living proof #2: Volvo Automobiles.

Nearly 1% of Volvo’s automotive gross sales within the US in 2023 had been full electrics. The determine was 0.2% within the 4th quarter of 2023. Nevertheless, in February, that determine globally shot to a record-high 22% — 22% of Volvo Automobiles gross sales had been full electrical automotive. Wanting extra broadly, 44% of Volvo Automobiles gross sales had been plugin automobile gross sales final month.

Naturally, these figures are certainly on the again of robust EV gross sales in Europe and China. “Gross sales in Europe remained robust and grew 26 per cent in comparison with February 2023, reaching 26, 773 vehicles. Gross sales of vehicles with a completely electrical or plug-in hybrid powertrain elevated with 18 per cent, whereas gross sales of absolutely electrical vehicles elevated by 31 per cent, in comparison with February final 12 months,” Volvo Automobiles writes. “In China, gross sales reached 7,911 vehicles, a lower of 39 per cent in comparison with February 2023. The rationale for the decline was because of the timing of the Lunar New Yr, which primarily occurred through the month of February.

“Our gross sales within the US reached 7,920 vehicles, a lower of seven per cent in comparison with final 12 months. Gross sales of vehicles with a completely electrical or plug-in hybrid powertrain grew by 6 per cent in comparison with February 2023, and accounted for 32 per cent of all vehicles bought within the US.”

Right here’s a full desk Volvo’s gross sales tendencies 12 months over 12 months in February and January–February, damaged out by area and globally:

There’s plenty of room for enchancment, however Volvo is clearly already one of many auto business leaders for its transition to EVs — and that’s even evident in what the auto group chooses to report!