US: Volvo Recharge Share Increases To 18% In September 2021

Volvo reports 9,350 car sales in the U.S. in September, which is down 9% year-over-year, but the year-to-date number is 30% up at 95,365.

The reason behind the decrease is simple – chip shortage, as demand remains relatively strong.

“Throughout 2021, the automotive industry has faced inventory challenges due to supply constraints. Volvo Cars continues to monitor the situation and currently expects that, for the balance of the year, it will be challenging to meet consumer demand for Volvo products.”

The Volvo Recharge plug-in sub-brand accounted for about 18.2% of the total volume, which is about 1,700 units. In California, the share increased to a record high 52% so the company sells more plug-ins than non-plug-ins there.

“The brand’s share of Recharge models – vehicles with fully electric or plug-in hybrid (PHEV) powertrains – held steady, representing 18.2 percent of total September sales in the United States. In California, Recharge volume grew to 52 percent of sales in the state.”

We estimate that the total plug-in volume in Q3 was 5,960.

Volvo’s Recharge lineup is currently comprised of a total of seven models, two all-electric (the C40 is coming soon) and five plug-in hybrids.

BEVs:

ModelBase PriceDest. ChargeTax CreditEffective Price
2022 Volvo C40 Recharge$58,750+$1,095$7,500$52,345
2022 Volvo XC40 Recharge$55,300+$1,095$7,500$48,895

PHEVs:

ModelBase PriceDest. ChargeTax CreditEffective Price
2022 Volvo S60 T8 Twin Engine$47,650+$1,045$5,419$43,276
2022 Volvo S90 T8 Twin Engine$60,050+$1,045$5,419$55,676
2022 Volvo V60 T8 Twin Engine Polestar$67,550+$1,095$5,419$63,226
2022 Volvo XC60 T8 Twin Engine$53,500+$1,095$5,419$49,176
2022 Volvo XC90 T8 Twin Engine$63,450+$1,095$5,419$59,126

By 2030, all Volvo models wiil become be completely electric. In 2022, the company plans to launch the electric successor of the XC90, based on the Scalable Product Architecture (SPA2), that will be produced in Ridgeville, South Carolina, together with the Polestar 3, also based on the SPA2.


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