Volvo EV sales in the U.S. plummeted 65% in the Q1. According to Cox estimates, it was the largest year-over-year percentage decline in the luxury segment.'
Ernie Norcross, owner of Volvo Cars Memphis in Tennessee, said dealers are accepting fewer EVs from the factory. "We just don't see the consumer interested in EVs," he said. "BEV or bust might not be a good strategy right now."
New Jersey Volvo dealer Matthew Haiken said his EV allocation is 10 percent of what it was a year ago
PHEVs are profitable, EVs are money losers," said Haiken, owner of Prestige Collection