For the Volvo Enthusiast

Volvo’s Plug-In Sales Nearly Doubled Last Year

Sales of Volvo’s plug-in hybrid vehicles neared the 30,000 units mark in Europe in the first half of 2020. That was a full 24% percent of the more than 123,000 vehicle total it posted for the first half of the year.

Although the numbers look substantial, Automotive News reports that nearly 80% of Volvo’s sales came from Europe and roughly the same volume of its plug-in sales also came from the European market.

Still, compared to last year, it’s a marked increase. Volvo sold just 15,643 in the first six months of 2019. That was just 9% of total sales in that period, so hybrid sales have outpaced the rest of Volvo’s sales.

The news at least bodes well for Volvo’s target of plug-in hybrids accounting for 20% of its sales.

“That [target] definitely has not been halted by the pandemic. Customers are asking for advanced electric cars,” said Volvo CEO Hakan Samuelsson. “Revenues [from the sale of plug-in hybrids] have covered the material cost increase from moving to electrification. Long term, what would be really bad for your profitability is trying to sell those old school cars.”