Volvo hits 30 per cent global electrified sales, Australia closing the gap

More than 30 per cent of global Volvo sales in the month of October 2021 employed plug-in hybrid or all-electric power – and the recent introduction of the brand's first electric car Down Under means Australia is closing the gap.

Announced earlier this week, Volvo Cars reported 581,464 cars as sold globally over the first 10 months of 2021 (January to October) – 148,068 of which wear the Swedish brand's 'Recharge' branding, applied to plug-in hybrid and all-electric vehicles, representing a year-to-date record-breaking 25.5 per cent of sales.

Plug-in hybrids (PHEVs) make up the vast majority of electrified sales (at 129,803 units), compared to the 18,261 electric vehicles (EVs) sold over the same period.

In the month of October alone, electrified Recharge models accounted for 31.5 per cent of global Volvo sales – surpassing the 2021 monthly record, set in September at 26.9 per cent – with Europe taking it one step further, at 46.9 per cent electrified sales in October (16 per cent of which are full EVs).

In Australia, with EV and PHEV demand in its infancy, just 10.2 per cent of Volvo Cars models sold between January and October 2021 wore Recharge branding, all of which are SUVs – though that number is far higher than the market average, with plug-in hybrid and electric vehicles accounting for 1.1 per cent of all SUVs sold in Australia so far in 2021.

However, it's worth noting electrified Volvo sales are on the rise in Australia, with 18.2 per cent of sales in October 2021 using plug-in hybrid or all-electric propulsion – bolstered thanks to the arrival of the new XC40 Recharge Pure Electric small SUV, which went on sale in September.

Priced from $76,990 before on-road costs, demand for the electric small SUV has seen its entire 2021 allocation sold out before the vehicle went on sale, and the vehicle account for 21 per cent of all Volvo Australia sales in September 2021 – equating to 129 vehicles, making it one of Australia's best-selling electric cars.

The growth in electrification comes as Volvo Australia sets a new annual sales record, with VFACTS industry sales figures listing 7932 vehicles as sold by the Swedish marque up to the end of October 2021 – up 32.3 per cent over its 2020 performance, and surpassing 2019's record tally of 7779 cars across a 12-month period.

"There is no doubt Australians are embracing electric cars in increasing numbers ... As global supply chains recover during 2022, we are confident of our continued growth with a further high double-digit growth driven by our all-electric strategy," said Volvo Car Australia managing director, Stephen Connor.

"XC40 Recharge Pure Electric is the first of five all-electric models Volvo will launch over the next five years as globally we strive to make all-electric cars 50% of our sales by 2025, although my personal ambition for Australia is 100% by 2025.

"Volvo's consistent double-digit growth in 2021 reinforces our standing as one of the fastest growing luxury car brands in Australia," he added.

Volvo's current XC40, XC60 and XC90 Recharge plug-in hybrids will be upgraded with larger batteries for the latter pair, while the XC40 Recharge Pure Electric SUV will be joined in late 2022 by the new C40 Recharge EV.