Volvo Cars: Electric Cars = 5.7% of Its Sales in August

Volvo Cars has one of the most aggressive EV transition plans among the legacy automakers. It plans to sell only fully electric cars worldwide by 2030. Last year, 70-year-old Volvo Cars CEO Håkan Samuelsson said, “I am totally convinced there will be no customers who really want to stay with a petrol engine.” Just 8 years away from that point, the company is far from 100% electric, but it’s going in the right direction.

The latest sales report from Volvo Cars shows that 5.7% of the company’s global auto sales were fully electric auto sales in August. Plugin vehicles overall (Volvo’s Recharge vehicles) accounted for 21.9% of sales.

In Europe, 47.8% of Volvo Cars sales were Recharge models in August, 10.6% were full electrics. In August, full electric sales were up 89.6%. In January–August, they were up 70.8%.

In the USA, those figures were 27.8% (Recharge models) and 6.3% (full electrics). Unfortunately, full electric sales were down dramatically in the USA in August (down 70.9%, from 708 to 206 sales). In the first 8 months of the year overall, they were up slightly (4.5%, from 3,935 to 4,111).

China, surprisingly, is where Volvo Cars is not doing as well in this regard. In August, 7% of the company’s sales were Recharge models, while only 1.7% were fully electric. That said, full electrics went from 52 in August 2021 to 492 in August 2022 (an increase of 846.2%), and for January–August, they went from 373 to 1,720 (an increase of 361.1%).

Almost across the board, plugin hybrid sales were down year over year. It was only looking at January–August sales in the US that they had a year-over-year increase (36%).

While the Europe, USA, and China numbers are fascinating, the “other markets” numbers were most interesting of all. In August, full electrics were up 192.3% (from 117 to 342 — small numbers, to be fair). In the first 8 months of 2022, they were up 1128.7%! That was going from 404 (almost nothing) to 4,964.

Any other thoughts on these Volvo Cars numbers?

You can see that Volvo Cars sales were down overall 4.6% in August and a whopping 21.5% in January–August.

Related: Volvo CEO: Totally Convinced No One Will Want A Gas Car In 2030


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