Posted on 03 Oct 2024
Swedish automaker Volvo Cars said Wednesday its EV sales rose 43% year-on-year in September, accounting for nearly half of its total sales in the month.
Some 30,174 EVs were sold in the month, pushing the year-to-date figures to 256,749 units, which is 33% higher than the same period last year. All-electric (BEV) models accounted for 15,243 of September’s sales and plug-in hybrids (PHEVs) for 14,931 units.
Demand for BEVs rose 66% on-year, compared with a rise of 25% for PHEVs. Mild hybrids and internal combustion sales declined 23% in the period.
“The overall market picture remains volatile and uncertain, but we are encouraged by a solid performance in Europe, especially for our electrified car portfolio, spearheaded by the EX30,” comments Björn Annwall, chief commercial officer and deputy ceo at Volvo Cars.
Overall European sales were up 23% in September. The EV growth was stronger at 52%, taking a 66% share of all the sales in the region in the period. In the US, PHEV sales rose 43% despite the decline in overall deliveries due to public holidays in the month.
In China, Volvo experienced milder growth with EV deliveries only rising by 7% y-o-y. A 19% drop in the sale of other powertrains was attributed to “underlying macroeconomic conditions” in the country.
Last month, the carmaker amended its all-electric 2030 target to allow hybrid sales. It now aims for 90% of its global sales volume by 2030 to consist of EVs. The remaining 10% will be mild hybrid cars, Kallanish notes.
Ceo Jim Rowan said at the time: “It is clear that the transition to electrification will not be linear, and customers and markets are moving at different speeds of adoption.” He described the move as “pragmatic and flexible.
Source:Kallanish
