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Volvo to phase out diesel models by early 2024 in pursuit of electrification by 2030
Industry News- Sep 21,23
Although a significant proportion of Volvo's European sales comprised diesel vehicles as recently as 2019, this figure dropped to a mere 8.9% of the company's sales in 2022.
Volvo Cars announced its intention to cease production of any remaining diesel models by early 2024 as part of its transition towards becoming a fully electric automaker. With a majority ownership stake held by China's Geely, Volvo is firmly committed to achieving full electrification by the year 2030.
Although a significant proportion of Volvo's European sales comprised diesel vehicles as recently as 2019, this figure dropped to a mere 8.9% of the company's sales in 2022. In August, 33% of Volvo's sales were attributed to fully electric or hybrid models. Unfortunately, the company did not provide a breakdown of how many of the remaining 67% of combustion-engine models were diesel-powered versus petrol-powered.
The decline in the sales of diesel models in Europe has been swift, largely stemming from the repercussions of Volkswagen's emission-cheating scandal.
Source: Business Standard
Volvo
Diesel models
Production end
Electric carmaker
Geely
Full electrification
European sales
Emission-cheating scandal
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