Volvo has increased its car sales in the U.S. by 32.4% year-over-year to 8,151, which is the best January since 2006. Kind of surprising, huh? Well, the Swedish manufacturer noted eight consecutive months of year-over-year growth so it's clearly not an accident.
The most interesting thing for us is that the plug-ins (the Recharge subbrand) are also doing quite well, and accounted for 8.2% of the total volume for the month - about 668 units. In December it was 12%.
Even more impressive is that in California, about 31.6% of Volvo car sales happens to be plug-ins! That's almost one third.
"The brand’s share of Recharge models – vehicles with fully electric or plug-in hybrid (PHEV) powertrains – accounted for 8.2 percent of total January sales. The brand’s performance in California contributed significantly to this number with 31.6 percent of total sales in the state being Recharge models."
Hopefully, once the customer deliveries of the all-electric Volvo XC40 Recharge start in volume, the company will significantly improve the volume (to four-digits per month and double-digit share).
Volvo line-up of PHEVs consists of several models, while the only all-electric is the XC40:
|Model||Base Price||Dest. Charge||Tax Credit||Effective Price|
|2021 Volvo S60 T8 Twin Engine||$47,650||+$995||$5,419||$43,226|
|2020 Volvo S90 T8 Twin Engine||$60,050||+$995||$5,419||$55,626|
|2020 Volvo V60 T8 Twin Engine Polestar||$67,300||+$995||$5,419||$62,876|
|2021 Volvo XC40 Recharge||$53,990||+$995||$7,500||$47,485|
|2021 Volvo XC60 T8 Twin Engine||$53,500||+$995||$5,419||$49,076|
|2020 Volvo XC90 T8 Twin Engine||$63,450||+$995||$5,419||$59,026|