Volvo Cars reports that its global sales increased in May by 43% year-over-year and it was the 11th consecutive month of growth. Volvo notes strong demand in the U.S., recovery from a sales drop in Europe (COVID-19), and a steady increase in China.
The plug-in electric car sales, under the Recharge subbrand, accounted for 23.7%, which means just under 15,200 units. Mostly plug-in hybrids we guess, but anyway, it's one of the highest results in the industry.
It's a high share, but not as high as a few other months earlier this year with a peak in February at 26.6%.
Year-to-date, Volvo sold over 77,000 plug-in electric cars, which is a quarter of its entire volume.
"Sales of the Recharge line-up of chargeable models, with a fully electric or plug-in hybrid powertrain, remained strong in Europe during the month of May, and represented 40 percent of the company’s overall sales in the region. Following a strong sales growth in the US, Recharge vehicles accounted for 20.8 percent of its total sales. Globally, Recharge cars accounted for 23.7 percent of the total sales volume during May."
The Recharge share is the highest in Europe: 40% in May. That's about 9,900 units. In the U.S. it's 20.8% or about 2,750.
We can expect that soon the majority of Volvo sales in Europe willo be plug-ins thanks to the introduction of the all-electric Volvo XC40 Recharge and the new Volvo C40 Recharge version. Other markets will follow.
We are now eager to see what the next electric Volvo will be: the 60-series or maybe 90-series? Volvo will have to introduce something special to stay competitive with the new wave of BEVs, based on dedicated platforms.
Volvo Cars detailed results: