Following a record-breaking month in March and a strong start to 2024, Volvo Canada continues to assert its commitment to electric vehicles and sustainability. The company celebrated significant sales achievements, selling a record 589 EVs in March alone, capturing nearly 50% of its total sales in Canada.
Volvo Canada witnessed an admirable 21.7% growth compared to March 2023. In the first quarter of 2024, Volvo sold 2,626 vehicles, marking a 5% increase in sales. The year 2023 set a new benchmark for Volvo Canada with 12,865 vehicles sold, showing a 25% rise from 2022. Notably, EV sales constituted 35% of total sales in 2023, an increase of 30% from the previous year.
Speaking at a media event in Toronto, Matt Girgis, the Managing Director of Volvo Canada, highlighted the company’s significant growth from selling around 4,500 cars a few years ago. Volvo is set to expand its product line in 2024, introducing new models like the fully electric premium seven-seat SUV EX90, and the smaller EX30 SUV. This will complement existing models such as the C40 Recharge and the XC40 Recharge.
“We’re excited about these cars,” said Girgis. “We’re bringing four fully-electric SUVs to market this year, aligning with our goal to become a fully electric company by 2030.”
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Girgis highlighted shifting consumer trends in Canada towards online digitization, transparency, electrification, affordability, and accessibility. Despite a slow industry-wide shift to fully electric vehicles—with a preference for hybrids—Girgis remains optimistic about future adoption.
“Sustainability resonates with consumers. They align with brands that reflect a sustainable future,” explained Girgis. He referenced a mobility report indicating significant consumer interest in EVs, though concerns about affordability and accessibility persist.
In response, Volvo Canada offers a diverse range of products with different powertrains to cater to varying consumer readiness for electrification. Approximately 50% of kilometers driven in Volvo’s plug-in hybrids are powered electrically, indicating robust use of EV capabilities.
To address concerns about the accessibility of charging infrastructure, Volvo Canada has partnered with the North American Charging Standard. The EX30, an affordably priced premium SUV, is part of Volvo’s efforts to make electric vehicles more accessible, with its MSRP ranging between $53,700 and $62,100.
Girgis also mentioned Volvo’s One Price Promise, introduced nearly two years ago, which offers a negotiation-free, transparent, and online purchasing experience for fully electric vehicles, underscoring the company’s forward-looking stance on automotive retail.
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Words by: Craig Clowes
Credits
canadianautodealer.ca
