Volvo EX30 Cloud Blue Exterior

48% of Volvo Cars’ Sales Now Plugin Vehicles — Globally

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Volvo Cars is yet another automaker highlighting its EV sales growth last quarter. After a few months of doom and gloom about “falling” EV sales — headline after headline after headline, not to mention real-world discussions — we sure are seeing a lot of automakers boast about booming EV sales last quarter.

In the case of Volvo Cars, 48% of all the cars it sold in June were plugin cars! Its plugin vehicle sales grew a whopping 41%. At the same time, its overall sales grew 8%. That tells us that Volvo’s non-plugin vehicle sales actually declined. Yay.

Just looking at full battery electrics (BEVs), those accounted for 36% of the companiess sales.

The Volvo Ex30, which has been a massive hit everywhere it’s been launched, was highlighted as a key reason for the brand’s EV sales jump.

Volvo Cars also noted that it was relatively strong results in Europe and Latin America that have driven the growth. In Europe, sales were up tremendously, driven by EVs. “In Europe, sales reached 36,474 cars in June, up 34 per cent compared to the same period last year. The sales of Volvo Cars’ electrified models increased by 54 per cent compared to the same period last year, and the share of electrified models accounted for 66 per cent of all cars sold in Europe during June,the company writes.

In China, Volvo sales were down, but plugin sales were again up. “Volvo Cars’ sales in China reached 14,049 cars, down 9 per cent compared to June 2023. Sales of electrified models – fully electric and plug-in hybrid models – stood at 1,448 sold cars, an increase of 12 per cent compared to the same period last year. ”

The US market was an odd one. First of all, there was some big IT downtime I wasn’t even aware of. Secondly, PHEV sales spiked up, but BEV sales presumably hit a little nosedive. Here’s how Volvo summarized it: “Sales in the US decreased 28 percent in June, totaling 9,304 cars. However, sales of plug-in hybrid models went up 75 percent compared to the same period last year. The decline in US sales was partly due to widespread IT-related disturbances that beset thousands of dealerships across the industry during the month of June, forcing a halt to normal operations.”

It would be great to get a little more info on the BEV portion of sales in each market, but Volvo’s performance last month and last quarter was clearly improved a great deal by the Volvo EX30 BEV and by growth of BEV sales in some regions and PHEV sales in others.

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Zachary Shahan

Zach is tryin' to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA], NIO [NIO], Xpeng [XPEV], Ford [F], ChargePoint [CHPT], Amazon [AMZN], Piedmont Lithium [PLL], Lithium Americas [LAC], Albemarle Corporation [ALB], Nouveau Monde Graphite [NMGRF], Talon Metals [TLOFF], Arclight Clean Transition Corp [ACTC], and Starbucks [SBUX]. But he does not offer (explicitly or implicitly) investment advice of any sort.

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