The manufacturer has already sold over 100,000 plug-in hybrids this year …
Volvo Cars reported that its global sales in July fell 8.7% year-over-year to 56,883, partly due to high demand in Europe in July 2020 and partly due to global semiconductor shortages.
Good news for the manufacturer: sales of plug-in electric cars continue to rise and last month reached 25.5% of the total volume (around 14,500).
Most plug-ins are sold in Europe (around 9,635), where Volvo’s recharge share is 43%, while in the US they add around 2,280 (19.7% share), making less than for the rest of the world 2,600 units remain.
"Volvo Cars’ Recharge range of rechargeable models continued its strong momentum in July, accounting for 25.5 percent of all vehicles sold in July. In Europe, over 43 percent of all vehicles sold in July were from the Recharge range."
We estimate that Volvo sold around 108,000 plug-in electric cars worldwide in the first seven months of 2021 (also almost 25% of the total). That’s really not bad – the cornerstone has been laid and 200,000 units could even go over the counter this year.
The target for 2025 is 50% for BEVs alone (600,000 units out of 1.2 million total) and 100% by 2030, which means we should see a high rate of increase soon.
Most likely, the actual BEV push will be in 2022-2023 with the introduction of the successor to the XC90 and the XC60 start. New BEV platforms and the focus on greater range and faster charging should attract many customers.
Together with the electrification of Volvo, we will also expand Polestar can see that is using the same platforms.
More electrifying Volvo news: Volvo C40 can now be ordered: Prices start at around 62,000 euros
Volvo electric cars: more range and faster charging in the future
Volvo XC90: The successor to be launched in 2023 as a pure electric car
Volvo donates lidar as standard to its electric flagship
Volvo Cars sales in a detailed overview:
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