Volvo says goodbye to diesel cars

The Swedish manufacturer is close to taking another key step towards 100% electric mobility. Volvo announced that Production of diesel cars will end at the beginning of 2024, thus ending the era. It’s worth noting that Volvo is one of the first car companies in the traditional segment to make this move, and it’s an achievement they’re not shy about boasting about.

“The last diesel-powered Volvo will be produced within a few months, making Volvo Cars one of the first traditional car manufacturers to take this step,” the company confirmed in a statement.

Just a few years ago it would have been difficult to think that Volvo would say goodbye to cars with diesel engines. In fact, in 2019, a significant portion of its sales continued to depend on this engine type. However, as electric vehicles move forward, more and more combustion products are released. In 2022, only 8.9% of Volvo’s revenue in Europe came from diesel variants.

Once the percentage was reduced, Volvo did not hesitate to set a date for ending production of diesel cars. In support of their decision they reported that 33% of sales in August were 100% electric or hybrid models..

But no matter what happens to your finances right now, Volvo plans to become an all-electric automaker by 2030. To comply, they must, of course, step aside in a market that was once an important economic pillar.

After phasing out diesel in the early months of 2024, Volvo’s next big step is to do the same with the gasoline engine. Of course, this won’t happen anytime soon as these models continue to sell very well, especially outside of Europe.

In some ways, Volvo’s farewell to the diesel engine isn’t too surprising. Not only because it was a logical step in their strategy, but also because they had already announced this move several years ago.

In 2018, Hakan Samuelsson, the automaker’s former CEO, noted that they are completely focused on electric mobility. For this reason they will not develop new diesel engines.

“Our future is electric and we will no longer be developing a new generation of diesel engines. We will phase out combustion engine-only vehicles and use hybrid petrol versions as a transition option as we move towards full electrification.”

His vision has apparently been passed on to the current administration led by Jim Rowan. Moreover, we must not forget that the Chinese company Geely Holding Group of Companies It is the majority shareholder of Volvo among other manufacturers. The company has committed to transform its subsidiary into an electric vehicle manufacturer. Thus, the efforts of both go in the same direction.