Volvo reports 8,701 car sales in the U.S. in October, which is down 18.6% year-over-year. According to the company, the reason for that is a shortage of components. Year-to-date sales are up 23.5% at 19,771.

The Volvo Recharge plug-in sub-brand, on the other hand, is growing like there is no tomorrow (up 333.9% year-over-year). In October, Recharge accounted for about 24.1% of the total volume, which appears to be a new record.

  • Volvo BEVs: 807 (up from 2 a year ago) and 5,225 YTD (up from 2 a year ago)
  • Volvo PHEVs: 1,295 (up 30.2% year-over-year) and 12,906 YTD (up 209.9%)
  • Volvo plug-ins: 2,102 (up 110.8%) and 18,131 YTD (up 333.9%)

In California, the share also increased to a new record of 65.3%. It seems that sooner rather than later Volvo will get abandon non-plug-ins completely.

"Year-to-date sales of Recharge models – vehicles with a fully electric or plug-in hybrid (PHEV) powertrain – grew by 333.9 percent over 2020. The company also saw sales of its electrified cars increase since September, with the portfolio representing 24.1 percent of total October sales."

"In California, Recharge volume grew to 65.3 percent of total sales in the state, an increase of 13 percent compared to last month and 37 percent over the same period last year."

Anders Gustafsson, Senior Vice President, Volvo Car Americas and President and CEO, Volvo Car USA said:

“Sales of our Recharge products, and the consumer demand for them, show no signs of slowing down. With one of the industry’s most ambitious electrification plans in place, we are more focused than ever on increasing the number of pure electric vehicles in our lineup to get us closer to achieving our goal of becoming fully electric by 2030.”

Volvo's Recharge lineup is currently comprised of a total of seven models, two all-electric (the C40 is coming soon) and five plug-in hybrids.

BEVs:

Model Base Price Dest. Charge Tax Credit Effective Price
2022 Volvo C40 Recharge $58,750 +$1,095 $7,500 $52,345
2022 Volvo XC40 Recharge $55,300 +$1,095 $7,500 $48,895
2022 Volvo C40 Recharge
Volvo C40 Recharge
Volvo XC40 Recharge
Volvo XC40 Recharge

PHEVs:

Model Base Price Dest. Charge Tax Credit Effective Price
2022 Volvo S60 T8 Twin Engine $47,650 +$1,045 $5,419 $43,276
2022 Volvo S90 T8 Twin Engine $60,050 +$1,045 $5,419 $55,676
2022 Volvo V60 T8 Twin Engine Polestar $67,550 +$1,095 $5,419 $63,226
2022 Volvo XC60 T8 Twin Engine $53,500 +$1,095 $5,419 $49,176
2022 Volvo XC90 T8 Twin Engine $63,450 +$1,095 $5,419 $59,126

By 2030, all Volvo models wiil become be completely electric. In 2022, the company plans to launch the electric successor of the XC90, based on the Scalable Product Architecture (SPA2), that will be produced in Ridgeville, South Carolina, together with the Polestar 3, also based on the SPA2.

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