Volvo Cars experienced a significant increase in sales of plugin vehicles, with a year-over-year surge of 40%. In November 2024, these vehicles accounted for 48% of the company's global sales. Volvo remains committed to its goal of achieving 100% electric vehicles by 2030, despite fluctuations in the broader automotive market.

In Europe, the demand for plugin vehicles rose by 39% compared to the previous year, representing 65% of Volvo's sales in the region. Sales in the United States remained stable, with a 5% increase, while China saw an 8% decline. However, plugin vehicles still made up 39% of Volvo's sales in the Chinese market. Fully electric cars alone accounted for 21% of Volvo's total sales, demonstrating the brand's strong position in the growing electric vehicle sector.

Overall, Volvo Cars' sales of plugin vehicles have been on the rise, particularly in Europe. With a commitment to achieving 100% electric vehicles by 2030, Volvo is positioning itself as a leader in the electric vehicle market. Despite fluctuations in different regions, plugin vehicles continue to play a significant role in Volvo's sales strategy.