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Volvo Underestimated Plug-In Hybrid Demand: Will Triple Production

MARK KANE From INSIDEEVs| March 22 , 2019

Volvo CEO Hakan Samuelsson admitted that the company hugely underestimated demand for its plug-in hybrid cars and now is hard at work to increase the production capacity.

Volvo PHEV demand, Volvo NEV production

Currently, Volvo does not have enough batteries, motors and other components to produce all the plug-in vehicles that it could sell. Further expansion should increase sales by 20-25% by the end of this year. The capacity is expected to triple compared to 2018, which should give the Swedish manufacturer a little room for new and updated models.

"We are not happy because we could sell more [plug-in hybrids], he said. We underestimated the demand. We are tripling the capacity from what we had about a year ago to where we will be at the end of this year."

According to Samuelsson, plug-in hybrids account for 10-15% of particular models offered in ICE and PHEV versions, globally.

Volvo PHEV sales in Europe according to JATO Dynamics:

  • 2017: ≈16,000

  • 2018: ≈26,800

  • 2019: expected growth of 20-25% to 32,000-33,500 according to Volvo

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