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Plug-Ins Account For Almost 25% Of Volvo Cars Sold In H1 2021 ...

Plug-Ins Account For Almost 25% Of Volvo Cars Sold In H1 2021

Jul 09, 2021 at 8:44am ET

Within 5 years, all-electric cars alone are expected to account for 50%.

Volvo Cars report that its global sales increased in June by 11% year-over-year, while the first half of the year was the best ever with 380,757 units (up 41% year-over-year).

In terms of plug-in electric car sales, things are progressing even better, as the Recharge subbrand accounted for 24.6% of the total result in the first six months. That would be over 93,600 units (up almost 150% year-over-year).

“Volvo Cars’ Recharge line-up of chargeable models, with a fully electric or plug-in hybrid powertrain, remained popular among customers and accounted for 24.6 per cent of all Volvo cars sold globally during the first six months of the year. Compared to the first half of 2020, the share of Recharge models increased with nearly 150 per cent.”

Our data indicates that in June, sales increased to over 16,400, which would be about 24% of the market. In the U.S. the company sold almost 2,500 units.

Let’s recall that the company would like to achieve an all-electric car share of 50% by 2025 (600,000 units out of 1.2 million total) and 100% by 2030.

Currently, Volvo offers only one all-electric model, the Volvo XC40 Recharge, which in the near future will be joined by the new Volvo C40 Recharge version.

However, the real acceleration of BEV sales will happen a little bit later, once the company will launch its second generation of electric cars, starting with the successor of the XC90 and XC60 SUVs.

This decade Volvo intends to focus on longer range and faster charging, which will allow it to gradually switch to an all-electric lineup. The recently shown Volvo Concept Recharge has given us glimpses of what to expect from premium EVs in the future.

Volvo Cars detailed results:

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