Volvo released its sales numbers for July 2024 and there are surprises, with pure electric cars in the United States — the C40/XC40 Recharge twins — falling a brutal 59%, while plug in hybrids gaining a whopping 73%, compared to the prior year.
The sales decline for the C40 and XC40 Recharge models isn’t a huge surprise, because having debuted in 2017, they’re somewhat dated.
The explosion in interest in plug in hybrid (PHEV) models is something I mentioned two weeks ago… a “resurgence in hybrid popularity,” in Volvo May Delay Its All-EV Plans. That article talks about the likelihood Volvo will push back its 2030 target, as it looks increasingly difficult to hit.
Let’s Read the Tea Leaves
These data tell us buyers are looking elsewhere for a true EV car, and when they are sticking to the Volvo brand, they’re hedging their bet by buying an in-between car… a PHEV. Luckily Volvo has five models to choose from: XC90 Recharge, XC60 Recharge, S90 Recharge, S60 Recharge, and V60 Polestar Engineered.
PHEVs are a double-edged sword however. While being extremely versatile due to the benefits of electric power for in-town/long legs for distance, they’re more complex than either pure electric or pure internal combustion automobiles.
Whatever the case, PHEV cars and SUVs have been a great bridge between electric and ICE for those unaware or uncaring about the inherent greater mechanical complexity of plug in hybrids.
Download Volvo’s July 2024 sales PDF here.
