Volvo cars continues its transition towards a 100% electric future. This Tuesday, the Swedish brand announced that it will stop production of all its diesel models at the beginning of 2024.
“In a few months, the last diesel-powered Volvo car will have been assembled, making Volvo Cars one of the first car manufacturers to reach this milestone,” the Swedish manufacturer said in a statement.
Majority owned by the Chinese Geely group, Volvo has committed to going fully electric by 2030.
Electricity, a third of Volvo sales
While the majority of cars sold by Volvo in Europe were still equipped with diesel engines in 2019, they only accounted for 8.9% of its sales in 2022. In fact, Volvo has been gradually removing diesel engines from the range of its new models, starting with the S60. sedan in 2019. Since then, only electric motors or plug-in hybrids have been offered, as in the best-selling SUV, the XC40.
In August, 33% of Volvo sales were fully electric or hybrid models. The manufacturer did not specify the proportion of diesel engines in the remaining 67%.
“To continue to prosper, we need profitable growth. Therefore, instead of investing in an activity that is losing momentum, we are betting on the future, namely electricity and online sales,” explained Håkan Samuelsson, then CEO, in 2021. from Volvo Cars. .
“Becoming a leader in the fast-growing high-end electric segment requires all of our efforts right now,” he continued.
Sales of diesel models fell in Europe after the Volkswagen emissions manipulation scandal in 2015. Since then, automakers have gradually reduced the number of diesel models available.
In 2015, diesel vehicles accounted for more than 50% of new car sales in Europe. Now, they represent only 14% of sales, according to the latest data available for July.
Source: BFM TV
