Volvo units a worldwide all-time gross sales report due to EVs

Volvo Automobiles’ world BEV gross sales are up 43% year-over-year in March – right here’s how its month-to-month and quarterly EV gross sales break down.

Volvo Automobiles reported an all-time excessive right this moment for world gross sales throughout a single month and says its “new totally electrical small SUV, the EX30, contributed to the gross sales progress.” Björn Annwall, Volvo Automobiles’ chief business officer & deputy CEO, says that “within the months forward, we’ll deal with ramping up gross sales of our EX30.” BEVs made up 23% of all automobiles offered throughout March.

Volvo Automobiles’ gross sales of electrified automobiles, consisting of BEVs and PHEVs, grew by 24% year-over-year in March, leading to 33,558 offered automobiles, which makes up a 42% share of all automobiles offered globally. Of the electrified automobiles offered, 18,021 of these – up from 12,621 in March 2023 – have been BEVs.

In Europe, BEVs noticed a 66% year-over-year progress price, leading to 8,995 automobiles offered. Gross sales of electrified automobiles accounted for 63% of all automobiles offered in Europe this March.

Gross sales of electrified automobiles within the US grew by 25% in March in comparison with the identical interval final 12 months and accounted for twenty-four% of all Volvo automobiles offered within the US. Plug-in hybrids noticed a 76% surge year-over-year, however BEVs noticed a 66% drop. The EX30 launch date isn’t touchdown within the US till this summer time.

Throughout March, 1,039 electrified Volvos have been offered in China, a lower of 28% in comparison with the identical interval final 12 months.

Volvo noticed a 27% enhance of BEV gross sales in Q1 2024 year-over-year. BEV gross sales dropped in China (-28%) and the US (-65%) in Q1, however elevated in Europe (48%).

Volvo Automobiles’ CEO stated to Reuters in January that the corporate is assured of “great progress” within the EV market. The automaker expects EVs to account for 50% of its gross sales quantity by 2025, and to be promoting solely EVs by 2030.

Learn extra: Volvo Automobiles says its new accomplice will scale back its EVs’ charging time by 30%

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