Volvo Doubles Global EV Sales In September, But Faces US Decline
Portfolio Pulse from Anan Ashraf
Volvo Cars doubled its global EV sales in September 2023 compared to August, driven by strong performance in Europe and China. However, U.S. sales declined significantly. Volvo has adjusted its strategy, no longer aiming to be fully electric by 2030, but instead focusing on a mix of electric, plug-in hybrid, and mild hybrid vehicles.
September 05, 2024 | 12:05 pm
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Volvo Cars reported a significant increase in global EV sales in September, but faced a decline in the U.S. market. The company has revised its strategy, moving away from a fully electric goal by 2030 to a mixed vehicle portfolio.
Volvo's global EV sales growth is positive, but the U.S. decline and strategy shift to include hybrids may create uncertainty. The mixed strategy could stabilize sales but may not immediately boost stock prices.
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