Volvo has sold 69% electric cars less in the United States in the first quarter of 2024 than it did the year before.
In absolute terms, the company managed to move 1,298 EVs as opposed to 4,138 in 2023. It had much more luck with plug-in hybrids, selling 10,124 units with a year-on-year growth of 55%.
Considering that the United States is a key market for the Swedish automaker, it may want to review its complete electrification strategy. The way things are now, Volvo still hopes to be able to go all-electric by 2030. It is also targeting a 50% share of EVs in its total global sales by 2025. Right now, they account for as little as 21%, and the outlook isn’t good.