Volvo Reaches 44% Plugin Autos

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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 is just not pulling the EV market ahead. So, typically it’s exhausting to see how a lot a automobile firm is doing overseas or globally to impress if it isn’t a frontrunner out there right here. Working example: Stellantis. Working example #2: Volvo Automobiles.

Nearly 1% of Volvo’s automobile gross sales within the US in 2023 have been full electrics. The determine was 0.2% within the 4th quarter of 2023. Nonetheless, in February, that determine globally shot to a record-high 22% — 22% of Volvo Automobiles gross sales have been full electrical automobile. Wanting extra broadly, 44% of Volvo Automobiles gross sales have been plugin car 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 totally electrical or plug-in hybrid powertrain elevated with 18 per cent, whereas gross sales of totally 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 as a result of timing of the Lunar New 12 months, which primarily came about 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 totally 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 a whole lot of room for enchancment, however Volvo is clearly already one of many auto trade leaders for its transition to EVs — and that’s even evident in what the auto group chooses to report!