Volvo had always promoted the V-60 plug-in hybrid electric vehicle as a limited run of 1,000 units, with a planned production of 2013. Then back in October 2012, Volvo announced the V60 PHEV had been a “worldwide success with the initial run of 1000 cars sold out before the car reached the showrooms.” This was partially due to the V-60 plug-in qualifying for the UK Government’s plug-in grant of £5,000 which brought the purchase cost down to £43,775. The vehicle also qualifies for exemptions on CO2 restrictions, congestion fees and some vehicle taxes.
The initial 1,000 being sold out prompted Volvo to up production to 4,000 – 6,000 V60 plug-ins.
Now, the company is still drowning in orders. Volvo has more than 3,000 orders from the Netherlands alone, and according to Automotosport.se, Volvo is hoping to increase production to 10,000 V60 plug-in hybrids per year. Increasing production is relatively easy because the V60 plug-in is built on the same line as the V60. However, Volvo’s hybrid component suppliers may not be able to keep up with the demand.