Volvo Cars achieved a global sales record in March thanks to EVs
Volvo Cars’ global BEV sales are up 43% year-over-year in March – here’s how its monthly and quarterly EV sales break down.
Volvo Cars reported an all-time high today for global sales during a single month and says its “new fully electric small SUV, the EX30, contributed to the sales growth.” Björn Annwall, Volvo Cars’ chief commercial officer & deputy CEO, says that “in the months ahead, we will focus on ramping up sales of our EX30.” BEVs made up 23% of all cars sold during March.
Volvo Cars’ sales of electrified cars, consisting of BEVs and PHEVs, grew by 24% year-over-year in March, resulting in 33,558 sold cars, which makes up a 42% share of all cars sold globally. Of the electrified cars sold, 18,021 of those – up from 12,621 in March 2023 – were BEVs.
In Europe, BEVs saw a 66% year-over-year growth rate, resulting in 8,995 cars sold. Sales of electrified cars accounted for 63% of all cars sold in Europe this March.
Sales of electrified cars in the US grew by 25% in March compared to the same period last year and accounted for 24% of all Volvo cars sold in the US. Plug-in hybrids saw a 76% surge year-over-year, but BEVs saw a 66% drop. The EX30 release date isn’t landing in the US until this summer.
During March, 1,039 electrified Volvos were sold in China, a decrease of 28% compared to the same period last year.
Volvo saw a 27% increase of BEV sales in Q1 2024 year-over-year. BEV sales dropped in China (-28%) and the US (-65%) in Q1, but increased in Europe (48%).
Volvo Cars’ CEO said to Reuters in January that the company is confident of “tremendous growth” in the EV market. The automaker expects EVs to account for 50% of its sales volume by 2025, and to be selling only EVs by 2030.
Read more: Volvo Cars says its new partner will reduce its EVs’ charging time by 30%
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China just laid out a plan to roll out over 100,000 ultra-fast EV charging stations by 2027 – and they’ll all be open to the public.
The National Development and Reform Commission’s (NDRC) joint notice, issued on Monday, asks local authorities to put together construction plans for highway service areas and prioritize the ones that see 40% or more usage during holiday travel rushes.
The NDRC notes that China’s ultra-fast EV charging infrastructure needs upgrading as more 800V EVs hit the road. Those high-voltage platforms can handle super-fast charging in as little as 10 to 30 minutes, but only if the charging hardware is up to speed.
China had 31.4 million EVs on the road at the end of 2024 – nearly 9% of the country’s total vehicle fleet. But charging access is still catching up. As of May 2025, there were 14.4 million charging points, or roughly 1 for every 2.2 EVs.
To keep the grid running smoothly, China wants new chargers to be smart, with dynamic pricing to incentivize off-peak charging and solar and storage to power the charging stations.
To make the business side work, the government is pushing for 10-year leases for charging station operators, and it’s backing the buildout with local government bonds.
The NDRC emphasized that the DC fast chargers built will be open to the public. This is a big deal because a lot of fast chargers in China aren’t. For example, BYD’s new megawatt chargers aren’t open to third-party vehicles.
As of September 2024, China had expanded its charging infrastructure to 11.4 million EV chargers, but only 3.3 million were public.
Read more: California now has nearly 50% more EV chargers than gas nozzles
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Tesla is starting to experience some consequences for misleading Full Self Driving customers – at least that’s the finding of one arbitration ruling that has Tesla refunding one customer $10,000 plus legal fees for failing to deliver on their promises. Find out more on today’s legally challenging episode of Quick Charge!
An arbitration “court” found that Tesla misled customers with its Full Self Driving product, and has now been forced to refund at least one person’s $10,000 payment (plus legal fees) for the not-quite autonomous driving software. France, too, is piling on claims of deceptive business practices – but there’s some good news for FSD fans! If you’re still willing to pay for it, Tesla will thrown in 0% financing on a brand new Cybertruck.
Check out the relevant links, below, to learn more.
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