How Volvo Achieved 54% Growth in Electric Vehicle Sales in 2024
How Volvo Achieved 54% Growth in Electric Vehicle Sales in 2024
Posted on May 16, 2025
Volvo electric vehicle sales reached unprecedented heights last year through strategic innovation and unwavering commitment to sustainability. The Swedish automaker has positioned itself as the leader among premium brands in electric vehicle market share, with fully electric models now representing 23% of their global sales volume. This remarkable achievement demonstrates how Volvo has successfully navigated the transition toward electrification while maintaining strong financial performance.
The Strategy Behind Volvo’s Electric Vehicle Success
Volvo electric vehicle sales grew dramatically due to a clear, customer-focused strategy. The company prioritized developing electric models that maintain the core Volvo experience while embracing the advantages of electric powertrains. By focusing on creating genuine user benefits including reduced maintenance requirements and lower operating costs, Volvo has attracted both existing owners and new customers to their electric lineup.
Volvo also invested heavily in battery technology and electric vehicle architecture designed specifically for Canadian driving conditions. This focused investment has resulted in electric vehicles that perform reliably in extreme temperatures while maintaining impressive range capabilities.
How Volvo Balanced Full Electric and Plug-in Hybrid Options
Volvo recognized that while fully electric vehicles represent the future, many drivers still require transitional technologies. Their strategy of offering both plug-in hybrids and fully electric models proved remarkably effective, with these electrified options collectively representing 46% of all Volvo cars sold globally.
For Canadian drivers, this balanced approach provides practical solutions across different regional needs. Urban drivers with established charging infrastructure can embrace fully electric models, while those in rural areas can choose plug-in hybrids that eliminate range anxiety while still reducing emissions.
Volvo Electric Vehicles in Canadian Winter Conditions
Owing to its Swedish origin, Volvo engineered their electric models with cold-weather operation as a priority, incorporating battery pre-conditioning systems that maintain optimal temperature even in extreme cold. The all-wheel drive capabilities provide exceptional traction on snow and ice, often delivering better winter performance than combustion counterparts due to precise torque control of electric motors.
The efficient heat pump systems maintain cabin comfort without significantly draining the battery – addressing one of the main concerns for Canadian electric vehicle buyers. This combination of winter-focused features has made Volvo electric models particularly suitable for year-round operation in the Canadian climate.
Volvo Cars Lakeridge: Your Electric Vehicle Partner
Volvo Cars Lakeridge offers specialized expertise and dedicated EV infrastructure to support your electric journey. The dealership has invested in comprehensive training for sales and service staff, ensuring customers receive accurate information and expert support throughout their ownership experience.
The service department features dedicated equipment and certified technicians specifically trained for electric vehicle maintenance. The dealership also offers convenient charging stations and has established partnerships with local charging network providers to create a seamless transition for new electric vehicle buyers.
The upcoming arrival of the all-new ES90 flagship electric sedan in summer 2025 will further accelerate Volvo’s electric momentum. Additionally, the refreshed XC60 plug-in hybrid with enhanced electric range and the all-new EX60 compact electric SUV expected later this year will expand Volvo’s electric portfolio significantly. These new models promise to build on Volvo’s record-breaking 2024 performance and drive continued growth throughout 2025.
Volvo Cars Lakeridge invites you to experience the electric difference firsthand and discover which electrified Volvo model best suits your driving lifestyle.