Volvo Cars USA announced that its car sales in the United States increased by 31% in August, with plug-in electric vehicles showing the most significant growth.
The sales of the company’s plug-in electric vehicles increased the fastest, significantly increasing the proportion of this technology within the total volume of the company.
In August, Volvo sold 2,673 rechargeable cars, translating to a year-over-year increase of 94% and a share of 25.1%.
This figure represented around 25% of the brand’s total volume (compared to 17% a year ago).
Plug-in hybrid cars (PHEV) are the majority with 1,814 units, which is a year-over-year increase of 55% and a share of 17.0%.
However, fully electric vehicles (BEV), which number 859, are growing rapidly and are expected to increase significantly in the short term.
This number translates to a year-over-year increase of 317% and a share of 8.1%.
Year-to-date, Volvo has sold 23,294 plug-in electric cars in the United States, representing approximately 29% of the total volume.
In these first eight months of the year, 9,717 BEVs were sold, resulting in a year-over-year increase of 136% and a share of 12%.
Regarding PHEVs, 13,577 units were sold, a 4% decrease year-over-year, with a share of 16.7%.
For reference, in the 12 months of 2022, the total volume reached 27,909 vehicles, accounting for 27.4% of the total volume.
In the short term, Volvo’s fully electric lineup will be reinforced by the 2024 model versions of the C40 Recharge and XC40 Recharge.
These models offer more attractive specifications than the 2023 model versions.
It’s worth noting that the imported models from the company are not eligible for the federal tax credit of $7,500, but the incentive could be included in lease rates.
In the future, Volvo’s BEV range will expand with the Volvo EX90 and the recently unveiled Volvo EX30.
Additionally, the company recently announced a fully electric minivan: the Volvo EM90. These next-generation models are crucial for the company’s plan to become 100% fully electric by 2030.
Read more: Biden offers factories USD 15.5 billion to transition to EVs
