Tuesday, December 5, 2023

Volvo says goodbye to diesel-powered cars

The Swedish manufacturer is close to taking another key step in its transition towards 100% electric mobility. Volvo announced that production of cars with diesel engines will end at the beginning of 2024, thus putting an end to an era. It is worth mentioning that Volvo is one of the first automotive companies – in the traditional segment – ​​to undertake such a movement, and it is an achievement that they do not hesitate to boast about.

“Within a few months, the last Volvo car with a diesel engine will be manufactured, which will make Volvo Cars one of the first traditional vehicle manufacturers to take this step,” the company confirmed in a statement.

A few years ago it was difficult to think that Volvo would say goodbye to vehicles with diesel engines. In 2019, in fact, a good part of its sales continued to depend on this type of engine. However, as they have promoted their electric cars, more and more combustion has been released. In 2022, only 8.9% of Volvo’s revenue in Europe came from diesel variants.

Once they managed to reduce the percentage, Volvo did not hesitate when setting a date to end the production of cars with diesel engines. To support their decision, they reported that 33% of its sales during August belong to 100% electric or hybrid models.

But regardless of what is currently happening in your finances, Volvo aims to become a fully electric automaker by 2030. To comply, of course, they must step aside in a market that was once an important economic support.

After abandoning diesel in the first months of 2024, Volvo’s next big step will be to do the same with the gasoline engine. Of course, it is not expected to happen soon, since these models continue to sell very well, especially outside of Europe.

To some extent, Volvo’s goodbye to the diesel engine is not too surprising. Not only because it was a logical step in their strategy, but because they had already announced the move a few years ago.

During 2018, Hakan Samuelsson, former CEO of the automaker, commented that they were fully focused on electric mobility. For this reason, they would not develop new diesel engines.

“Our future is electric and we will no longer develop a new generation of diesel engines. We will phase out cars that only have internal combustion engines, and use hybrid gasoline versions as a transition option as we move towards full electrification.”

His vision has evidently been carried over to the current administration, led by Jim Rowan. We must not forget, furthermore, that the Chinese company Geely Holding Group It is a majority shareholder in Volvo – among other manufacturers. It has committed to converting its subsidiary into a 100% electric automaker. The efforts of both, then, go in the same direction.

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