Volvo’s EV Sales Are Growing Fast and You Might Want to Pay Attention
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Volvo’s EV Sales Are Growing Fast and You Might Want to Pay Attention

Image showcasing Volvo EX30 EV SUV at Electrify Expo Seattle
  • Volvo’s electric and plug-in hybrid sales increased by 17% in January.
  • Fully electric cars made up 19% of all Volvo sales.
  • Gas and mild hybrid sales dropped 17%, as more buyers choose electric.

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Volvo’s latest sales report reveals exciting progress. Battery electric vehicles (BEV) and plug-in hybrid (PHEV) models are on the rise! In January, the company sold 50,820 cars worldwide, and while total sales dipped 5%, the demand for electrified models surged.

Electrified models accounted for 44% of all Volvos sold, with fully electric cars making up 19% of the total. That is nearly one in five Volvos running purely on battery power!

Electrify Expo Orlando 2024 Volvo EX30 side profile
A light blue Volvo EX30 displayed at Electrify Expo, surrounded by attendees engaging with the electrified vehicles and displays.

Volvo’s XC60 remained a customer favorite, followed by the XC40, EX40 and XC90. While overall sales reflected seasonal fluctuations, partly due to the timing of Chinese New Year, the growth in electrified vehicles shows that more people are making the switch.

The biggest winner, however, are Volvo’s plug-in hybrids! Sales grew by 28%, highlighting their appeal to drivers who want both electric efficiency and long-range flexibility. Meanwhile, fully electric models grew by 5%, reaching 9,705 units.


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The Volvo report shared, “Electrified models – fully electric and plug-in hybrid models – grew 17 per cent compared to the same period last year and accounted for 44 per cent of all cars sold during January.”

At the same time, sales of gas-powered and mild hybrid models declined 17%, signaling a clear trend that more buyers are choosing electric.

Electrify Expo Seattle 2024 Volvo XC 40
A blue Volvo XC40 Recharge with a roof cargo box displayed at Electrify Expo, as an attendee and a staff member engage in discussion.

If you are considering an EV, Volvo’s lease deals make it more accessible:

  • Volvo EX30 AWD Twin Performance Plus: Lease for $499 per month for 36 months with $3,899 due at signing.
  • Volvo XC40 Recharge Core: Lease for $479 per month for 36 months with $3,995 due at signing.
  • Volvo C40 Recharge Core – Lease for $375 per month for 36 months with $3,829 due at signing.

With demand continuing to grow, automakers are expanding their electric lineups, giving buyers more options than ever. Plug-in hybrids are proving to be a popular choice, offering the flexibility of a gas engine with the efficiency of electric driving.

Meanwhile, fully electric vehicle sales are accelerating, showing strong momentum in the market. With nearly half of Volvo’s sales coming from electrified models, it is clear that electric vehicles are becoming the new normal.


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IMAGES: ELECTRIFY EXPO

FTC: We use income-earning auto affiliate links. Learn more.

AUTHOR: 

RANDI BENTIA

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