Volvo, under ownership by Geely, was one of the first automakers to announce its intentions to go fully carbon-neutral in the near term. That’s been particularly timely in China, where Geely is based. Volvo intends to be out of hydrocarbon fuels completely by 2040, and to that end, has extended the availability of both full-electric and plug-in hybrid vehicles in its product lineup under the model name Recharge, led by the all-electric XC40 Recharge crossover. Recharge models now account for 23 percent of Volvo’s global sales.
The broadening extent of Recharge offerings led Volvo to the best January sales performance in its history, with worldwide sales of 59,588 cars climbing 30.2 percent over 2020’s January total, led by marked sales strength in China. Volvo deliveries in that market leaped by more than 91 percent over last year’s January total, led by Recharge models, more than erasing the 2020 sales collapse that occurred after the coronavirus was first identified in Wuhan. Corresponding Volvo sales increases for the same period totaled 32 percent in the United States and 9 percent in Europe, with Recharge models accounting for 41 percent of sales in that market. SUVs, led by the XC40, now constitute some 71 percent of Volvo global sales.