A recent Reuters report said Volvo parent company Geely carved out Volvo's ICE development division, and is working with Renault to create a new company that only works on internal combustion products, including hybrids. After that, Volvo will convert the XC60, S60, and S90 to EVs, aiming to sell only electric vehicles by 2030 globally, although that could happen as early as 2026 in some markets such as Australia. The urban crossover is to play the Omega to the EX90's Alpha in ways beyond physical, trying to lure younger buyers into the fold. The next step in Volvo's EV revolution is the debut of the EX30 crossover in June. The former is ramping up to gather the minerals needed for the electric revolution, the latter will be seeking battery chemistries that can reduce or eliminate the minerals currently needed for the electric revolution. On the other side, one note of caution in the Q1 report caught our eyes, Volvo writing that "costs for lithium skyrocketed 800 percent over the last two years." The pendulum is swinging the other way, the next sentences telling readers " now beginning to see lithium prices declining, which should improve underlying profitability on electric cars." Still, it's clear mining operations and R&D labs are going to be hugely busy over the next decade. The report describes a "tremendous reception from customers" that "surpassed the company’s boldest and most ambitious internal projections" for how the EX90 could do in the market. We imagine the actual span was much shorter. There could have been four months at most from orders opening to orders closing, the debut happening at the beginning of November. We don't know when the company stopped taking orders nor the size of the production run. On top of all that, shopper anticipation for the EX90 crossover is such that Volvo has closed the reservation books, already selling out the first production run. The easing of supply chain woes allowed plants to produce 9% more Volvos and Polestars in Q1 of this year than happened in Q4 of last year. Electric car sales - still just the XC40 Recharge and C40 Recharge for now - jumped 157% to take their share of the total to 18%, a 10% increase over last year. In the company's report on Q1 results, president and CEO Jim Rowan wrote, "We have started 2023 on a stable note, continuing to deliver on our ongoing transformation with increased revenues and core profits in the first quarter." Compared to Q1 of 2022, overall sales were up 10%. Whether you are coming from West Hartford or visiting Gengras Volvo from New Haven, we are just a short drive away.Volvo likes the way 2023 has gone so far, and the carmaker is cautiously optimistic about the way things look like they're going. Visit us today for a first-hand look at our available services, or contact our team through our website to schedule an appointment. Our experienced, personable technicians are prepared to get the job done quickly and efficiently, without sacrificing the quality of our work. If you require any maintenance, genuine auto parts, or repairs during your journey with Volvo, our service center is your top destination. From our compact Volvo sedans to our versatile crossovers, we will find the right match for you. Our sales staff is knowledgeable across all models, model-years, and body-styles available at our dealership, so you are in the best of hands when shopping with us at Gengras Volvo. Whether you are in the market for a quality used Volvo V90 crossover or a rugged Volvo XC60 SUV, we have plenty of options to appeal to your needs. Visit us today for a closer look at our used inventory! Make it Your Own at Gengras Volvo Our featured used models represent some of the best deals currently available, while our Certified Pre-Owned selection offers East and West Hartford area drivers refined, recent-year models to explore. Our dedicated sales team is here to work with you to find the ideal model at the best deal for your preferences and price range. From unique crossover models to innovative Volvo SUVs, our used inventory has something for everyone, at rates that will work for any budget. West Hartford and East Hartford drivers looking for top-tier luxury will find no wider or more diverse selection than at Gengras Volvo. Find Your Next Pre-Owned Volvo Today at Gengras Volvo in East Hartford
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