Volvo’s U.S. PHEV Gross sales Doubled, However EVs Have been Down 78% In Might 2024

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Radouane
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Volvo’s U.S. PHEV Gross sales Doubled, However EVs Have been Down 78% In Might 2024

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Volvo Vehicles USA reported 10,153 U.S. gross sales in Might, down 5% year-over-year. Yr-to-date, gross sales are up 10%, with 51,708 items bought. In the meantime, Volvo‘s plug-in automotive gross sales elevated noticeably final month—though solely due to plug-in hybrids.

In Might, Volvo plug-in automotive gross sales amounted to three,914, 29% greater than a yr in the past. That is about 38.6% of the model’s whole quantity (in comparison with 28.3% a yr in the past).

Volvo wants EX fashions to extend EV gross sales

To date this yr, Volvo’s all-electric automotive gross sales averaged simply over 300 items a month. The 1,595 items bought to this point this yr imply a 71% lower in comparison with the earlier yr.

Over 92% of that (3,617 items) have been plug-in hybrids, which in Might famous a stable 113% year-over-year enhance.

Sadly, the all-electric automotive section stays weak, with simply 297 gross sales final month (down 78% year-over-year). It was the fifth such month this yr.

Possibly issues will change as soon as the Volvo EX30 and Volvo EX90 enter the market. The EX90 has simply entered manufacturing in South Carolina, however deliveries will begin within the second half of 2024, so June may also stay sluggish.

Volvo plug-in automotive gross sales final month (YOY change):

  • BEVs: 297 (down 78%) and a pair of.9% share
  • PHEVs: 3,617 (up 113%) and 35.6% share
  • Whole Recharge: 3,914 (up 29%) and 38.6% share
Volvo Recharge sales in the U.S. - May 2024

To date this yr, Volvo has bought over 15,000 plug-in automobiles within the U.S., 29.7% of the whole gross sales quantity. Nonetheless, all-electric automotive gross sales are down 71% year-over-year to lower than 1,600 items.

Volvo plug-in automotive gross sales year-to-date (YOY change):

  • BEVs: 1,595 (down 71%) and three.1% share
  • PHEVs: 13,741 (up 67%) and 26.6% share
  • Whole Recharge: 15,336 (up 12%) and 29.7% share

For reference, in 2023, Volvo bought over 35,000 plug-in electrical automobiles within the U.S. (up 28% year-over-year), virtually 28% of the whole quantity.

Volvo Recharge sales in the U.S. - May 2024

Gross sales of the all-electric Volvo XC40 Recharge and the Volvo C40 Recharge are a lot decrease than in 2023. In the meantime, the brand new Volvo EX90 nonetheless wants not less than weeks to reach. We imagine that after it arrives, gross sales ought to enhance.

The excessive tariffs may have an effect on the China-made Volvo EX30, so it is onerous to make a forecast.

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