Volvo exhibits market demand for electrified vehicles

Volvo declared in March that by 2030, it would only produce electric vehicles. It reached a new high of over 12% market share in South Africa’s premium segment in April 2022, up from 10.7% a year earlier in April 2021. Last month, Volvo’s local sales were nearly 50% electric, with mild-hybrid B5 powertrains available in the XC60 as well as XC90 ranges showing extremely popular with South African purchasers.

In the meantime, the plug-in hybrid models of T8 Recharge that sit atop the XC90 and XC60 lineups accounted for 12% of total sales in April, rising to nearly 17% when the XC40 P8 Recharge AWD – Volvo’s first fully electric car – was added to the mix.

The growing demand for Volvo’s electrified vehicles, as evidenced by the strong growth in the share of the Recharge models in total sales, says the company’s current blend of powertrain alternative is well matched to the local premium market, according to Greg Maruszewski, who is the managing director (MD) of Volvo Car South Africa.

“Our refreshed range now offers consumers in South Africa’s premium market a variety of powertrain options, including mild-hybrid, plug-in hybrid, and all-electric models, and our April performance reflects a growing demand for more electrified vehicles in the country.  As Volvo expands its manufacturing capability of fully electric and plug-in hybrid cars, and local interest rises even higher, the share of Recharge models, which will soon be strengthened by the launch of the single-motor XC40 P6 Recharge, will continue to grow,” noted Maruszewski.

The larger XC40 line-up, which comprises the aforementioned completely electric P8 Recharge AWD variant, was Volvo Car SA’s best-selling model range in April, accounting for more than 20% of segment sales. Meanwhile, the XC60 insignia was seen on more than one out of every 3 Volvos registered in the area throughout the month.

Despite the larger industry’s supply challenges and stock shortages, Volvo Car SA’s remarkable results were accomplished despite April being generally a poor sales month in South Africa due to a large number of public holidays.

“By 2025, Volvo wants half of its worldwide sales to be totally electric, with the other half being hybrids. With an electrification plan in place in South Africa, we’re assisting in the achievement of this goal while meeting increasing local appetite for premium electrified vehicles,” Maruszewski said.

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