Volvo sees higher demand for EVs as fully electric sales hit 15% share mark

Volvo’s fully electric vehicles are trending as sales rose by double-digits in every region in September. In the US, Volvo EV sales increased 631% as the automaker finds its rhythm.

Volvo electric vehicle sales pick up the pace

“There is no long-term future for cars with an internal combustion engine,” said Henrick Green, Volvo’s chief tech officer, in March 2021.

After Volvo was one of the first legacy automakers to commit to an all-electric future by 2030, the results are showing.

Volvo’s fully electric vehicle sales (not including plug-in hybrids) rose 52% in September. The Swedish automaker sold 9,205 EVs last month globally, accounting for 15% of its total sales.

The growth was shown in every market, including Europe (+23%), China (+23%), the US (+631%), and other markets (+155%).

The Swedish automaker has sold over 80,600 EVs this year, up 149% from 2022. Volvo’s EV lineup began with the C40 Recharge and XC40 Recharge and has expanded in a big way over the past several months.

New EVs rolling out

Volvo introduced the flagship EX90 last November, a large seven-seater electric SUV with up to 300 miles range. Well equipped, the model will start under $80,000, according to Volvo.

Meanwhile, Volvo introduced its smallest and most affordable electric SUV, the EX30, earlier this year. The EX30 will start at $36,245 (including destination), with up to 275 miles range (see our review here).

Volvo’s small electric SUV is expected to be a game-changer for Volvo, targeting a “completely different demographic” in younger buyers.

The automaker is also teasing its first electric minivan, the EX90, ahead of its global debut on November 12.

Volvo is “putting in place important building blocks for its next growth phase,” with highly anticipated EVs in new segments, a battery plant under construction, and more on the way.

Volvo aims to increase its sales share of fully electric cars to 50% by 2025 as it works to become an all-electric automaker by the end of the decade.