US: Volvo Almost Doubled Plug-In Electric Car Sales In Q1 2022

All-electric Volvo car sales take off.

Volvo Recharge lineup

Mark Kane

By: Mark Kane

Apr 9, 2022 at 2:29pm ET

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Volvo reports 22,757 car sales in the US during the first quarter of 2022, which is 16.5% less than a year ago. In March, sales decreased by 5.0% to 9,428.

In contrast, Volvo plug-in electric car sales increased quickly reaching 6,018 in Q1 2022 (up 93% year-over-year), including 2,430 in March (up 92%). The share of plug-ins represent 26% of the total volume in Q1 (a similar share was achieved in March).

"The company’s Recharge models (EVs and PHEVs) represented nearly 26 percent of total March sales nationwide, led by the company’s SUVs and crossovers. In California, Recharge sales were up 75 percent, and accounted for more than 54 percent of total sales over the same period last year."

According to the company, especially all-electric car sales increases quickly, although this category still requires some time to catch up with plug-in hybrids:

Volvo plug-in car sales in March 2022:

BEVs: 674 (up 1,196% year-over-year)
PHEVs: 1,756 (up 44% year-over-year)
Total Recharge: 2,430 (up 92% year-over-year)

Volvo plug-in car sales in Q1 2022:

BEVs: 1,658 (up 418% year-over-year)
PHEVs: 4,360 (up 56% year-over-year)
Total Recharge: 6,018 (up 93% year-over-year)

For reference, in 2021, the total Volvo plug-in electric car sales in the US more than tripled to 22,820 (up 214.7%).

This year should be even better for the Volvo Recharge subbrand than 2021. In the long term, Volvo intends to achieve a 100% share of BEV sales by 2030.

In the near future, the company will introduce the first models, built on a new, dedicated all-electric platform. Meanwhile, the plug-in hybrids received an EV range and power boost.

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

“Within a challenging landscape across the Americas we close out the first quarter on an electrified high note. Demand for Volvo cars remains strong and we are confident that consumers will continue to make the switch to electrified products and keep Volvo at the top of their consideration list.”