- 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.
- Yr-to-date, EV gross sales went down 63% in comparison with 2023.
Volvo is struggling to promote all-electric automobiles in the USA. Whereas its EV sport has seen strong positive aspects in Europe, China and all over the place else, the story is totally completely different stateside. As in, it’s very unhealthy. And an absence of recent fashions which might be powering Volvo’s electrical success elsewhere is accountable.
In November, Volvo offered simply 493 absolutely electrical automobiles within the U.S. No typos, you learn that appropriately. 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 because the starting of the 12 months, and that automobile 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 stated that “the automobile market within the firm’s primary areas of Europe, China and the U.S. is more and more beneath stress which impacts demand.” However Common Motors, Honda, Hyundai and Kia are doing fairly nicely, so absolutely there should be different elements at play right here.
One purpose I can consider is the present EV portfolio supplied to American clients. 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., and so they’re each $50,000+ automobiles. We’re typically followers of them right here at InsideEVs, however when it comes to specs they’re reasonably dated in comparison with extra fashionable examples.
The true drawback within the U.S. is the shortage of the entry-level EX30. That automobile ought to’ve been on sale earlier this 12 months however as a result of it is made in China, it acquired spiked by Biden administration tariffs—leaving Volvo with out this large electrical progress driver it has in Europe and different areas.
After Volvo labored out pricing, the EX30 is lastly on its approach 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 value 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 automobile that’s about the identical measurement as a Hyundai Kona, so will probably be fascinating 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 automobile, that seems like overkill.
After which there’s the far more luxurious EX90 SUV. Initially positioned as an electrical successor the XC90 that helped reset Volvo for the trendy period (which is now returning as a hybrid), American provides of the EX90 are off to a gradual begin. A search of Automobiles.com reveals fewer than 300 are on the market nationwide as of this writing and our early exams indicated it does not really feel fairly “completed” when it comes to software program and options, so Volvo Automobiles USA will not be capable to rely on that as a growth-driver for some time.
Additionally, it’s not all unhealthy information for Volvo. In Europe, gross sales of its all-electric lineup went up 50% in November and 86% year-on-year. Total, together with combustion automobiles, world gross sales went up 5% final month and year-to-date, the Swedish automaker offered 9% extra automobiles than in 2023.
Globally, EV gross sales are additionally doing nicely, 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.
