- Volvo is having a tough yr by way of EV gross sales within the U.S.
- The Swedish automaker bought fewer than 500 EVs final month right here.
- 12 months-to-date, EV gross sales went down 63% in comparison with 2023.
Volvo is struggling to promote all-electric automobiles in the US. Whereas its EV sport has seen stable good points in Europe, China and in all places else, the story is totally totally different stateside. As in, it’s very dangerous. And an absence of latest fashions which are powering Volvo’s electrical success elsewhere is in charge.
In November, Volvo bought simply 493 absolutely electrical automobiles within the U.S. No typos, you learn that accurately. To make issues worse, that is down 41% in comparison with final November when 840 EVs had been bought stateside, however the ultimate blow comes when evaluating year-to-date gross sales.
Within the first 11 months of 2024, Volvo bought 4,819 EVs, down a whopping 63% from final yr’s 12,923 models. To place issues in perspective, Honda has bought 25,000 Prologue EVs because the starting of the yr, and that automobile isn’t even Honda’s personal creation—as a substitute, it’s based mostly on Normal Motors’ Ultium platform and is assembled alongside different GM EVs in Mexico.
Again in October, Volvo mentioned that “the automobile market within the firm’s principal areas of Europe, China and the U.S. is more and more beneath strain which impacts demand.” However Normal Motors, Honda, Hyundai and Kia are doing fairly effectively, so certainly there have to be different components at play right here.
One cause I can consider is the present EV portfolio provided to American clients. The EX40 and EC40 (previously often called the XC40 Recharge and C40 Rechage) are the one EVs on sale proper now within the U.S., they usually’re each $50,000+ automobiles. We’re typically followers of them right here at InsideEVs, however by way of specs they’re quite dated in comparison with extra fashionable examples.
The actual drawback within the U.S. is the shortage of the entry-level EX30. That automobile ought to’ve been on sale earlier this yr however as a result of it is made in China, it acquired spiked by Biden administration tariffs—leaving Volvo with out this big electrical development driver it has in Europe and different areas.
After Volvo labored out pricing, the EX30 is lastly on its method to the U.S., with deliveries set to start earlier than the yr 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 worth is $46,195 (together with vacation spot).
The Volvo EX30 will arrive at U.S. dealerships by the yr’s finish.
That’s a fairly penny for a automobile that’s about the identical measurement as a Hyundai Kona, so will probably be attention-grabbing 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 appears 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 fashionable 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” by way of 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 dangerous information for Volvo. In Europe, gross sales of its all-electric lineup went up 50% in November and 86% year-on-year. General, together with combustion automobiles, international gross sales went up 5% final month and year-to-date, the Swedish automaker bought 9% extra automobiles than in 2023.
Globally, EV gross sales are additionally doing effectively, with a 40% enhance in November and a 59% enhance year-over-year–it’s simply the US the place the model is struggling on the EV entrance.
