Volvo To End Production Of Diesel Cars and SUVs By Early 2024

Volvo Cars has announced it will cease global production of all diesel cars and SUVs in its portfolio by early 2024, marking a significant step towards becoming a fully electric car manufacturer. By 2030, Volvo is committed to exclusively offering fully electric vehicles, with an even broader goal of achieving climate neutrality by 2040. This announcement took place during Climate Week NYC, where Volvo officially declared the imminent end of production for all its diesel-powered models, with the last diesel Volvo expected to be rolled out just a few months from now.

Last diesel Volvo expected to be manufactured in just a few months from now

This move follows Volvo's decision in the previous year to discontinue the development of new combustion engines. In November 2022, the company divested its stake in Aurobay, a joint venture that housed its remaining combustion engine assets.

In August 2023, 33 per cent of Volvo's sales comprised fully electric or hybrid models

"Electric powertrains are our future and superior to combustion engines; they generate less noise, less vibration, less servicing costs for our customers, and zero tailpipe emissions," says Jim Rowan, Chief Executive at Volvo Cars. "We’re fully focused on creating a broad portfolio of premium, fully electric cars that deliver on everything our customers expect from a Volvo and are a key part of our response to climate change."

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The landscape has shifted significantly since 2019, when diesel cars constituted the majority of Volvo's European sales. However, as of 2022, it accounted for merely 8.9 per cent of the Swedish automaker's total sales. Moreover, August figures revealed that 33 per cent of Volvo's sales comprised fully electric or hybrid models. The European market has witnessed a substantial rise in sales of electrified cars, encompassing both fully electric and plug-in hybrid variants.