Volvo EV Sales Plummet in the U.S. Despite Global Growth

The Swedish automaker struggles in the American market, with EV sales down 63% year-to-date, while achieving significant gains in Europe and globally.

• Volvo sold just 493 electric vehicles in the U.S. during November 2024, a 41% decline compared to the same month last year.
• Year-to-date EV sales in the U.S. dropped 63% to 4,819 units, a stark contrast to the 12,923 sold in the same period in 2023.
• Globally, Volvo's EV sales rose by 59% year-over-year in November, driven by strong demand in Europe, where EV sales increased 50%.
• The delayed U.S. launch of the entry-level EX30, hindered by tariffs on Chinese-made vehicles, has been cited as a key factor in Volvo's American EV struggles.
• Volvo's overall global sales rose 5% in November, with Europe seeing a 20% increase, while the U.S. market grew by a modest 5%, primarily due to plug-in hybrid sales.

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