- Volvo is having a tough yr 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 US. Whereas its EV sport has seen stable beneficial properties in Europe, China and in all places else, the story is totally totally different stateside. As in, it’s very unhealthy. And an absence of recent fashions which can be powering Volvo’s electrical success elsewhere is accountable.
In November, Volvo offered simply 493 totally 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 yr’s 12,923 models. To place issues in perspective, Honda has offered 25,000 Prologue EVs because the starting of the yr, and that automotive isn’t even Honda’s personal creation—as an alternative, it’s primarily based on Basic Motors’ Ultium platform and is assembled alongside different GM EVs in Mexico.
Again in October, Volvo stated that “the automotive market within the firm’s major areas of Europe, China and the U.S. is more and more beneath strain which impacts demand.” However Basic Motors, Honda, Hyundai and Kia are doing fairly nicely, so absolutely there have to be different elements at play right here.
One motive 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 fairly dated in comparison with extra fashionable examples.
The actual drawback within the U.S. is the dearth of the entry-level EX30. That automotive 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 value is $46,195 (together with vacation spot).
The Volvo EX30 will arrive at U.S. dealerships by the yr’s finish.
That’s a reasonably penny for a automotive that’s about the identical measurement as a Hyundai Kona, so it is going to 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 automotive, that appears like overkill.
After which there’s the way 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 Vehicles.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 Vehicles USA will not be capable of 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. General, together with combustion automobiles, international 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% improve in November and a 59% improve year-over-year–it’s simply the US the place the model is struggling on the EV entrance.
