This decision makes Volvo one of the first traditional automakers to take such a step. While diesel cars made up the majority of Volvo’s European sales in 2019, they accounted for just 8.9% of the company’s sales in 2022. In comparison, all-electric and hybrid models accounted for 33% of Volvo’s sales in August 2023.
Volvo’s decision dovetails with the global shift to electric vehicles and reflects changing consumer preferences for cleaner and more sustainable modes of transportation (even if hybrid).
Source: Ferra
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