Volvo Cars' official financial statements

EV Sales Surge in U.S. and Europe, Up 11.3% and 4.3%, Volvo Reports Strong Q2 Earnings

Jul 18, 2024, 05:14 AM

Sales of electric vehicles (EVs) have seen a significant increase in both the U.S. and Europe. According to Kelley Blue Book, 330,463 EVs were sold in the U.S. during the second quarter (Q2) of 2024, marking an 11.3% increase over the same period in 2023 and a 23% improvement from the first quarter of 2024. U.S. deliveries of EVs in Q2 were up 11% compared to the first quarter. European car sales also rose by 4.3% in June, driven by Italian subsidies that boosted demand for EVs. Additionally, Swedish automaker Volvo Cars reported better-than-expected operating earnings for the second quarter, attributed to strong demand for its electric and plug-in hybrid models.