Volvo's U.S. EV Sales Were Still Pretty Low In Q1 2024

Volvo Cars USA reported 15,315 U.S. sales in March, up 50% year-over-year. Year-to-date, sales are up 17%, with 30,951 units sold. Volvo's plug-in car sales also increased last month, although that is only thanks to plug-in hybrid sales growth. All-electric car sales remain a small fraction of overall sales, and EV sales were down two-thirds compared to March of 2023. Get Fully Charged Volvo needs EX models to increase EV sales In 2023, Volvo sold in the U.S.

sales improved by 76% year-over-year to 3,291—the highest level since April 2022. It seems that Volvo has to bring the EX30 and the upcoming EX90 to market to strengthen its all-electric sales. Volvo plug-in car sales last month : BEVs: 351 and 2.3% share s: 3,291 and 21.5% share Total Recharge: 3,642 and 23.8% share Volvo Recharge sales in the U.S. - March 2024 In Q1 2024, Volvo sold over 8,000 plug-in cars in the U.S., which is roughly 26% of the total sales volume. All-electric car sales are down 65% year-over-year to less than 1,000 units, which is a disappointment. Volvo plug-in car sales year-to-date : BEVs: 970 and 3.1% share

s: 7,118 and 23% share Total Recharge: 8,088 and 26.1% share For reference, in 2023, Volvo sold over 35,000 plug-in electric cars in the U.S. , which was almost 28% of the total volume. The start of 2024 appears to be challenging for Volvo's all-electric cars. Maybe things will improve later this year, especially with the launch of the Volvo EX30 and Volvo EX90.

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Volvo Cars' Shares Hit Highest Level Since November on Record March SalesShares in Sweden's Volvo Cars hit their highest level since November on Thursday after the automaker posted record March sales. Year-on-year sales of electric vehicles in Europe were 22% higher in the quarter and up 34% in March, roughly in line with overall sales growth in that market. Sweden's Volvo Cars on Thursday climbed to its highest level since November, after the automaker reported record single-month sales for March and solid electric vehicle growth in Europe. Shares rose by 6.2% at 12:20 p.m. in London and hit their highest level since Nov. 16, according to LSEG data. Volvo Cars said its new all-electric EX30 model had boosted growth and that it would focus on ramping up sales of the vehicle in the coming months. Year-on-year sales of electric vehicles in Europe were 22% higher in the quarter and up 34% year-on-year in March, roughly in line with overall sales growth in that market
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