No complaints at Volvo—EV sales soar in October

The legacy automakers had a truly scary October. Ford and GM, both of which had seemed to be manfully slogging forward with electrification, have scaled back their EV plans, moaning that they can’t make a profit on EVs. (It’s not just American companies—VW and Mercedes are wavering too.) Their can’t-do jeremiads are aimed at politicians, and might be translated thus: “Water down emissions standards, or there’ll be job losses.”

However, it seems that Hyundai and Volvo weren’t invited to the pity party—or perhaps they declined to attend, citing previous engagements with the 21st century.

Volvo Cars reported its 14th consecutive month of growth in October—total sales were up 10% compared to the same period last year. “The sales increase was primarily driven by the company’s fully electric cars,” the company reports.

Volvo EX30

Back in 2021, Volvo announced plans to phase out gas-burning vehicles by 2030. “There is no long-term future for cars with an internal combustion engine,” said CTO Henrik Green. The company’s future-oriented strategy might just be bearing fruit.

Global monthly sales of pure EVs soared by 29% compared to October of last year, while plug-in hybrid sales declined by 8%, bringing the total increase in plug-in vehicle sales to a respectable if unspectacular 7%. On a year-to-date basis, the numbers are more impressive: pure EV sales ballooned by 125%, and plug-in vehicle sales surged by 44%.

In October, Volvo’s top seller was its XC60 crossover hybrid, which sold 20,212 units worldwide, followed by the XC40 (17,022 units) and the XC90 (7,961).

Deliveries of the EX30 crossover are “expected to commence in the first half of 2024” at a starting price of $36,245 (including a $1,295 “destination charge”).

Source: Volvo via Electrek

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