Volvo’s U.S. Car Sales Growth Was Mainly Driven By PHEVs In April 2024

By automotive-mag.com 6 Min Read

Volvo Cars USA reported 10,604 U.S. sales in April, up 10% year over year. Year to date, sales are up 15%, with 41,555 units sold.

Volvo’s plug-in car sales increased last month, reaching 3,334 units—13% more than a year ago. That’s about 31.4% of the brand’s total volume (compared to 30.7% a year ago).

The company said its overall growth in April was mainly driven by an 89% increase in plug-in hybrid car sales. Volvo sold 3,006 PHEVs, 28.3% of all cars.

Unfortunately, we can’t see similar growth on the all-electric side. Volvo’s EV sales have remained low for several months now. April was not an exception, with just 328 units (down 76% year-over-year).

As we understand, buyers are waiting for the next-generation Volvo EX30 and Volvo EX90 models. Once they will arrive in volume, we should see a surge in EV sales.

Volvo plug-in car sales last month (YOY change):

  • BEVs: 328 (down 76%) and 3.1% share
  • PHEVs: 3,006 (up 89%) and 28.3% share
  • Total Recharge: 3,334 (up 13%) and 31.4% share

So far this year, Volvo has sold over 11,400 plug-in cars in the U.S., which is 27.5% of the total sales volume. However, all-electric car sales are down 69% year-over-year to less than 1,300 units, which is disappointing.

Volvo plug-in car sales year-to-date (YOY change):

  • BEVs: 1,298 (down 69%) and 3.1% share
  • PHEVs: 10,124 (up 55%) and 24.4% share
  • Total Recharge: 11,422 (up 7%) and 27.5% share

For reference, in 2023, Volvo sold over 35,000 plug-in electric cars in the U.S. (up 28% year-over-year), almost 28% of the total volume.

volvo-recharge-sales-in-the-us-april-2024-b

The start of 2024 appears to be challenging for Volvo’s all-electric cars. As we said in the past, maybe things will improve later this year with the launch of the Volvo EX30 and Volvo EX90.

In the future, the all-electric Volvo XC40 Recharge and the Volvo C40 Recharge will also be renamed to fit the “EX” naming convention: They’ll be the EX40 and EC40, respectively.

Below, we attached Volvo’s full lineup of all-electric cars available for order in the U.S.

Model Base Price Dest. Charge Tax Credit Effective Price
2024 Volvo C40 Recharge RWD 19-in $53,600 +$1,295 N/A $54,895
2024 Volvo C40 Recharge AWD 19-in $55,350 +$1,295 N/A $56,645
2025 Volvo EX30 Single Motor Core RWD 18-in $34,950 +$1,295 N/A $36,245
2025 Volvo EX30 Twin Motor Plus AWD 19-in $44,900 +$1,295 N/A $46,195
2025 Volvo EX90 TM Plus (7 seat) AWD 20-in $76,695 +$1,295 N/A $77,990
2025 Volvo EX90 TM Plus (6 seat) AWD 20-in $77,195 +$1,295 N/A $78,490
2025 Volvo EX90 TM Ultra (7 seat) AWD 21-in $81,045 +$1,295 N/A $82,340
2025 Volvo EX90 TM Ultra (6 seat) AWD 21-in $81,545 +$1,295 N/A $82,840
2025 Volvo EX90 TM Perf. Plus (7 seat) AWD 20-in $81,695 +$1,295 N/A $82,990
2025 Volvo EX90 TM Perf. Plus (6 seat) AWD 20-in $82,195 +$1,295 N/A $83,490
2025 Volvo EX90 TM Perf. Ultra (7 seat) AWD 21-in $86,045 +$1,295 N/A $87,340
2025 Volvo EX90 TM Perf. Ultra (6 seat) AWD 21-in $86,545 +$1,295 N/A $87,840
2024 Volvo XC40 Recharge RWD 19-in $52,450 +$1,295 N/A $53,745
2024 Volvo XC40 Recharge AWD 19-in $54,200 +$1,295 N/A $55,495

* A $7,500 federal tax credit might be available through leasing for all models. At some point in the future, the Volvo EX90, with a price under $80,000, might be qualified for the incentive when purchasing due to its local production in Ridgeville, South Carolina.

Model Battery
(kWh)
EPA
Range
0-60
mph
(sec)
Top
Speed
(mph)
2024 Volvo C40 Recharge RWD 19-in 82 297 mi 6.9 112
2024 Volvo C40 Recharge AWD 19-in 78 257 mi 4.6 112
2025 Volvo EX30 Single Motor Core RWD 18-in 69 275 mi* 5.1 112
2025 Volvo EX30 Twin Motor Plus AWD 19-in 69 265 mi* 3.4 112
2025 Volvo EX90 TM Plus (7 seat) AWD 20-in 111 300 mi* 5.7 112
2025 Volvo EX90 TM Plus (6 seat) AWD 20-in 111 300 mi* 5.7 112
2025 Volvo EX90 TM Ultra (7 seat) AWD 21-in 111 300 mi* 5.7 112
2025 Volvo EX90 TM Ultra (6 seat) AWD 21-in 111 300 mi* 5.7 112
2025 Volvo EX90 TM Perf. Plus (7 seat) AWD 20-in 111 300 mi* 4.7 112
2025 Volvo EX90 TM Perf. Plus (6 seat) AWD 20-in 111 300 mi* 4.7 112
2025 Volvo EX90 TM Perf. Ultra (7 seat) AWD 21-in 111 300 mi* 4.7 112
2025 Volvo EX90 TM Perf. Ultra (6 seat) AWD 21-in 111 300 mi* 4.7 112
2024 Volvo XC40 Recharge RWD 19-in 82 293 mi 6.9 112
2024 Volvo XC40 Recharge AWD 19-in 78 254 mi 4.6 112

* according to the manufacturer

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