Volvo has released sales statistics for the first quarter of 2024. It is interesting that against the background of the decline in demand for electric vehicles, the popularity of hybrids has grown significantly in the first quarter of 2024.
In the US market alone, the Swedish brand's hybrid segment grew by 44 percent in three months. At the same time, sales of electric cars fell sharply – by 65% immediately.
It said just 970 electric Volvos were sold in the first three months of 2024, compared to 2,782 last year. According to experts, Volvo's first-quarter report is perhaps the clearest look yet at current trends among US buyers.
It is also worth noting that everything looks different in Europe. In the first three months of the year, Volvo managed to sell 31,237 electric cars. In percentage terms, the growth was immediately 48 percent compared to 2023. At the same time, plug-in hybrids even lost a little in European countries – their sales decreased by 2%.