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Several years ago, Volvo stuck its nose out ahead of the competition and said it would be 100% electric by 2030. The company has gradually and quietly moving toward that goal. While other automakers jumped into the EV marketing when it was in vogue but then started grumbling about EVs, EV growth, and EV targets as soon as the opportunity presented itself, Volvo has been more steady and consistent. Perhaps it helps that the company is now owned by Geely, a giant Chinese automaker. There’s no question about it in China: EVs are the future, and even predominantly in present now.
Anyway, the news is that Volvo’s global electrification numbers look pretty good. The company just announced that its November 2024 sales were up 5% year over year, but its plugin vehicle sales were up 40% year over year. In other words, in contrast to the claims EV sales are dropping, EV sales completely carried Volvo Cars to growth in November.
Here’s the big number, though: plugin vehicle (full electric and plugin hybrid vehicle) sales accounted for 48% of the company’s global sales last month! Fully electric cars alone accounted for 21% of Volvo Cars’ sales.
In Europe, plugin vehicle sales grew by 39% in November 2024 compared to November 2023, and they accounted for a whopping 65% of Volvo Cars’ European auto sales.
In the US, sales grew by 5%. In China, they were down 8% in terms of fan love, but they still represented 39% of Volvo Cars’ sales in the country.
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