- Volvo is having a tough 12 months when it comes to EV gross sales within the U.S.
- The Swedish automaker offered fewer than 500 EVs final month right here.
- 12 months-to-date, EV gross sales went down 63% in comparison with 2023.
Volvo is struggling to promote all-electric vehicles in the USA. Whereas its EV sport has seen stable positive factors in Europe, China and all over the place else, the story is totally completely different stateside. As in, it’s very dangerous. And an absence of latest fashions which might be powering Volvo’s electrical success elsewhere is in charge.
In November, Volvo offered simply 493 totally electrical vehicles within the U.S. No typos, you learn that accurately. To make issues worse, that is down 41% in comparison with final November when 840 EVs had been offered stateside, however the ultimate blow comes when evaluating year-to-date gross sales.
Within the first 11 months of 2024, Volvo offered 4,819 EVs, down a whopping 63% from final 12 months’s 12,923 models. To place issues in perspective, Honda has offered 25,000 Prologue EVs for the reason that starting of the 12 months, and that automotive isn’t even Honda’s personal creation—as an alternative, it’s primarily based on Common Motors’ Ultium platform and is assembled alongside different GM EVs in Mexico.
Again in October, Volvo mentioned that “the automotive market within the firm’s important areas of Europe, China and the U.S. is more and more underneath strain which impacts demand.” However Common Motors, Honda, Hyundai and Kia are doing fairly effectively, so certainly there should be different elements at play right here.
One cause I can consider is the present EV portfolio provided to American prospects. The EX40 and EC40 (previously often known as the XC40 Recharge and C40 Rechage) are the one EVs on sale proper now within the U.S., they usually’re each $50,000+ vehicles. We’re typically followers of them right here at InsideEVs, however when it comes to specs they’re reasonably dated in comparison with extra trendy examples.
The actual downside within the U.S. is the shortage of the entry-level EX30. That automotive ought to’ve been on sale earlier this 12 months however as a result of it is made in China, it received spiked by Biden administration tariffs—leaving Volvo with out this enormous electrical progress driver it has in Europe and different areas.
After Volvo labored out pricing, the EX30 is lastly on its option to the U.S., with deliveries set to start earlier than the 12 months ends. In Europe, it proved to be a success, however as a result of the primary model to ship to the U.S. would be the mid-tier, dual-motor, its beginning worth is $46,195 (together with vacation spot).
The Volvo EX30 will arrive at U.S. dealerships by the 12 months’s finish.
That’s a reasonably penny for a automotive that’s about the identical measurement as a Hyundai Kona, so will probably be attention-grabbing to see if the subcompact crossover will flip the tide for Volvo stateside. Granted, the Kona does not have 422 horsepower, however in such a small automotive, that seems like overkill.
After which there’s the way more luxurious EX90 SUV. Initially positioned as an electrical successor the XC90 that helped reset Volvo for the fashionable period (which is now returning as a hybrid), American provides of the EX90 are off to a gradual begin. A search of Vehicles.com reveals fewer than 300 are on the market nationwide as of this writing and our early checks indicated it does not really feel fairly “completed” when it comes to software program and options, so Volvo Vehicles USA will not be capable to depend on that as a growth-driver for some time.
Additionally, it’s not all dangerous information for Volvo. In Europe, gross sales of its all-electric lineup went up 50% in November and 86% year-on-year. General, together with combustion automobiles, world gross sales went up 5% final month and year-to-date, the Swedish automaker offered 9% extra vehicles than in 2023.
Globally, EV gross sales are additionally doing effectively, with a 40% enhance in November and a 59% enhance year-over-year–it’s simply the USA the place the model is struggling on the EV entrance.
