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Volvo Cars 2024 Sales Performance Overview: A Detailed Analysis
Volvo Cars has disclosed its global sales metrics for 2024, featuring a comprehensive regional breakdown. Notably, the company has included in-depth figures regarding fully electric vehicle (BEVs) and plug-in hybrid (PHEV) sales across different markets. Let’s analyze these statistics further, including insights into the proportion of electric and hybrids-lead-us-straight-to-hell/” title=”Palmer Declares: 'Hybrids Lead Us Straight to Hell!”>hybrid sales in each region, supported by a visual representation at the conclusion.
Global Electric Vehicle Sales Insights
In 2024, worldwide fully electric vehicle registrations surged by an impressive 54% when compared to 2023. Meanwhile, plugin hybrids experienced a growth of 16%, significantly outpacing Volvo’s overall sales rise of just 8%.
The number of fully electric vehicles sold increased from 113,419 units in the previous year to 175,194 in this reporting period. Similarly, plugin hybrids grew from 152,561 to 177,593 units sold—indicating that while PHEVs remain marginally ahead in volume terms for Volvo Cars transactions presently, there is a clear upward trend favoring BEVs.
By December of last year alone, BEVs constituted about 19% of total sales while PHEVs made up approximately27%, translating into a combined plug share of nearly half (46%) of overall transactions throughout the year.
Electric Vehicle Trends in Key Markets
The United States: A Divergent Path
The situation across American market showcases stark contrasts; here BEV registrations plummeted by as much as59%, whereas plug-in hybrids saw remarkable growth at69%. This divergence occurred within a wider context where overall Volvo car sales dipped slightly by3% during this timeframe.
Total U.S. BEV sales fell drastically from13 ,609 units in20123 down to only5 ,608in2024.In comparison,PHEV figures soaredfrom22 ,048salesin2023to37 ,294units the following year.
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< p > Throughout these twelve months,BEVsclaimedjust about four-and-a-half percent(4 .5%)of U.S.transactions where PHEVs accountedfor29 .8 %—against declining interests towards full electrics.
A Focus on China: Marginal Gains Within Adverse Trends
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