Volvo Cars announced on Tuesday its plans to discontinue the production of remaining diesel models by early 2024, signaling a decisive shift towards becoming an all-electric car manufacturer.
In a press statement, the Swedish automaker stated, “In a few months from now, the last diesel-powered Volvo car will have been built, making Volvo Cars one of the first legacy car makers to take this step.”
As part of their commitment to sustainable mobility, Volvo, majority-owned by China’s Geely, aims to achieve full electrification of their vehicle lineup by the year 2030.
The move reflects a remarkable transformation in Volvo’s product portfolio. Just a few years ago, in 2019, the majority of cars sold by the company in Europe were diesel-powered. However, by 2022, diesel vehicles made up a mere 8.9% of Volvo’s sales in the region.
Recent data from August 2023 indicates a significant surge in the adoption of electric and hybrid models, which accounted for 33% of Volvo’s sales during that month. The company did not provide a breakdown of how many of the remaining 67% of sales consisted of combustion-engine models, including both diesel and petrol variants.
The decline in diesel vehicle sales across Europe has been a trend accelerated by factors such as the Volkswagen emission-cheating scandal and a broader industry push towards cleaner technologies. In 2015, diesel cars represented more than 50% of new car sales in Europe, but that figure had dwindled to just over 14% by July 2023.
