Motoring News

Volvo hits record share as electric drive grows

JOHANNESBURG, South Africa – Volvo Car SA reported its highest yet premium segment share in April 2022 as the country showed its growing appetite for electric vehicles..

In March 2022 Volvo SA announced all its local model ranges had gained some option of electrification – mild-hybrid, plug-in hybrid and all-electric variants – in line with the brand’s global ambitions of transforming into a fully electric car company by 2030.

LATEST MODELS: Volvo SA hitting sales records with electric cars. Image: Supplied

The next month Volvo Car SA achieved a record of more than a 12% share of South Africa’s premium segment, up from the 10.7% reported a year earlier with battery cars accounting for nearly half of the brand’s local sales with the mild-hybrid B5 powertrains offered in the XC60 and XC90.

GROWING DEMAND’

Meanwhile, the T8 Recharge plug-in hybrid units that top the XC60 and XC90 ranges accounted for 12% of April 2022’s total sales – that figure rising to almost 17% when adding the XC40 P8 Recharge AWD – Volvo’s first fully electric vehicle – to the mix.

Greg Maruszewski, MD, says the growing demand for Volvo’s electric vehicles, as illustrated by the sharp increase in the share of Recharge models in the company’s total sales, shows the firm’s current mix of powertrain options “is well-suited to the local premium market”

In April 2022,the broader XC40 line-up – which includes the fully electric P8 Recharge AWD – remained Volvo Car SA’s best-seller with more than 20% of sales in its segment. Meanwhile, more than one in every three Volvos registered locally during the month wore the XC60 badge.

By 2025, Volvo aims for 50% of its global sales to consist of fully electric cars, with the other half hybrids.

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