Volvo is making rapid strides on its push into electric vehicles, with 504 EV sales in the month of August – from just two electric models – making up 49% of Volvo’s total 1,037 sales for the month.
According to FCAI’s vFacts data for August, Volvo’s year-to-date sales in 2023 are at 8,005, up from 7,130 same time in 2022, with 37 per cent of them (2,948) either the Volvo XC40 Recharge or the C40 Recharge.
The brand aims to reach its full electric sales targets by 2026, and its progress to date is well above other traditional luxury car makers, and for the year is five times the industry average.
“We’ve delivered close to 3000 fully electric SUVs in the first eight months of 2023, which is an outstanding result in a very competitive market,” Volvo Australia managing director Stephen Connor says. “Our XC40 Recharge Pure Electric is leading the way, recording its best month ever in August, with 382 sales.”
The results come before Volvo readies itself for the launch of multiple new models in the coming months. This includes the upgraded Volvo XC40 Recharge and C40 Recharge with a new rear-wheel-drive powertrain on the single motor variants along with other upgrades.
On top of that, there is an upcoming smaller electric SUV, the EX30.
Last week Volvo shared with The Driven that the EX30 had local order books with over 800 pre-orders.
“We have received over 800 pre-orders for the new EX30, our smallest ever electric SUV, which boasts the smallest carbon footprint of any Volvo produced to date,” Connor said.
“With the EX30 we have experienced record enquiry and order intake measured against all of our recently introduced electric vehicle models.”
Volvo has now also now confirmed that deliveries are planned to commence in Q1 next year with more details to be shared in the coming months.
With the success of the existing EV models and new models like the upcoming EX30, the company is on track to be a pure EV brand by 2026.
Connor touched on the brand’s EV ambitions at a global and more local level for Australia: “Globally, Volvo is firmly committed to becoming an electric-only carmaker by 2030, but in Australia, we’ve previously announced we will make the transition to full Electric Vehicles happen by 2026.
“Our continuing strong results in 2023, and the popularity of Volvo’s pure EVs, reinforces that this is the right strategy for the Australian market.”
As the popularity of EVs in Australia reaches an all-time high, more drivers are realising the benefits they bring. Car makers with the right EV models and stock will continue to remain strong as showcased by Volvo with 37% of all sales being EVs. This further helps the uptake of EVs which is needed for cleaner transport in our cities.
Riz is the founder of carloop based in Melbourne, specialising in Australian EV data, insight reports and trends. He is a mechanical engineer who spent the first 7 years of his career building transport infrastructure before starting carloop. He has a passion for cars, particularly EVs and wants to help reduce transport emissions in Australia. He currently drives a red Tesla Model 3.