Volvo Car Just Made Its Last-Ever Diesel Vehicle
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 27 2024
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Should l Buy ?
Source: Bloomberg
- Volvo Ends Production of Diesel Cars: Volvo produced its last automobile with a diesel engine, marking the end of an era for the manufacturer that plans to focus solely on electric vehicles by 2030.
- Transition to Electric Vehicles: The XC90 SUV, the final diesel model, rolled off the line in Sweden as Volvo shifts away from diesel technology due to declining global demand for electric vehicles.
- Industry Trends and Challenges: Other automakers have been noncommittal about phasing out combustion engines, and some have revised their EV targets due to challenges in the market.
- Market Dynamics: Diesel cars' popularity peaked in Europe nine years ago but have since slumped to only 14% of new registrations last year.
- Focus on Electric Mobility: Despite discontinuing diesel production, Volvo remains committed to supporting its diesel customers while emphasizing the growth potential of electric vehicles in the long term.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
