Volvo Cars today reported sales of 49,904 cars in June, down 26.9 per cent compared to the same month last year. Demand for the company’s cars remains robust, especially for its Recharge line-up of electrified cars.
Sales for June were impacted by the Covid-19-related lockdowns in China, which caused a shortage of certain components primarily affecting the production of fully electric and plug-in hybrid cars. Overall, Volvo Cars starts to see a marked improvement in its manufacturing situation, with the number of cars produced in June being the highest in the year. Volvo Cars anticipates, however, that the share of deliveries of fully electric and plug-in hybrid cars will continue to be impacted into the third quarter.
During the first six months of the year, Volvo Cars sold 291,301 cars, down 23.5 per cent compared to the same period last year. The company’s fully electric cars accounted for 7.6 per cent of total sales during this period, which more than tripled compared with the same period last year.
Nearly every third Volvo car (32.3 per cent) sold during the first half of 2022 was a fully electric or plug-in hybrid (Recharge).
The number of active subscriptions at the end of June had increased by 122 per cent compared with the same period last year. And for the first six months of 2022, the number of Volvo cars sold online increased by 86 per cent compared with the same period in 2021. This growth was driven by increasing customer demand in combination with a broadened offer in more markets.
European sales for June reached 16,039, down 44.1 per cent compared to the same month last year. Sales of Recharge cars accounted for 33.8 per cent of the total sales in the region during the month.
Volvo Cars’ US sales for the month reached 8,434 cars, down 31.2 per cent compared to June last year, with Recharge models making up 25.1 per cent of the total sales.
China sales declined by 1.3 per cent in June to 16,468 cars compared to the same month last year.
Volvo Cars’ top-selling model for the month was the XC60 with sales of 18,275 cars (2021: 23,038 units), followed by the XC40 at 10,194 cars (2021: 20,392 ) and the XC90 at 9,949 cars (2021: 10,579 units).
|
January- June |
||||||
|
June |
||||||
|
2022 |
2021 |
Change |
2022 |
2021 |
Change |
|
|
Europe |
16,039 |
28,695 |
-44.1% |
119,770 |
166,822 |
-28.2% |
|
Recharge |
5,426 |
11,566 |
-53.1% |
58,546 |
68,170 |
-14.1% |
|
- Plug-in hybrid |
4,543 |
10,065 |
-54.9% |
45,492 |
60,992 |
-25.4% |
|
- Fully electric |
883 |
1,501 |
-41.2% |
13,054 |
7,178 |
81.9% |
|
China |
16,468 |
16,680 |
-1.3% |
70,233 |
95,252 |
-26.3% |
|
Recharge |
675 |
759 |
-11.1% |
5,042 |
4,133 |
22.0% |
|
- Plug-in hybrid |
557 |
716 |
-22.2% |
4,156 |
3,850 |
7.9% |
|
- Fully electric |
118 |
43 |
174.4% |
886 |
283 |
213.1% |
|
US |
8,434 |
12,258 |
-31.2% |
50,585 |
63,754 |
-20.7% |
|
Recharge |
2,118 |
2,474 |
-14.4% |
15,905 |
10,074 |
57.9% |
|
- Plug-in hybrid |
1,565 |
1,746 |
-10.4% |
12,094 |
7,748 |
56.1% |
|
- Fully electric |
553 |
728 |
-24.0% |
3,811 |
2,326 |
63.8% |
|
Other |
8,963 |
10,591 |
-15.4% |
50,713 |
54,929 |
-7.7% |
|
Recharge |
2,426 |
1,999 |
21.4% |
14,468 |
11,418 |
26.7% |
|
- Plug-in hybrid |
1,842 |
1,961 |
-6.1% |
9,999 |
11,195 |
-10.7% |
|
- Fully electric |
584 |
38 |
1,436.8% |
4,469 |
223 |
1,904.0% |
|
Total |
49,904 |
68,224 |
-26.9% |
291,301 |
380,757 |
-23.5% |
|
Recharge |
10,645 |
16,798 |
-36.6% |
93,961 |
93,795 |
0.2% |
|
- Plug-in hybrid |
8,507 |
14,488 |
-41.3% |
71,741 |
83,785 |
-14.4% |
|
- Fully electric |
2,138 |
2,310 |
-7.5% |
22,220 |
10,010 |
122.0% |
-ends-
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Volvo Cars in 2021
Volvo Car Group recorded an operating profit of 20.3 BSEK. Revenue in 2021 amounted to 282.0 BSEK, while global sales reached 698,700 cars.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world, with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.
Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This is reflected in its ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.
As of December 2021, Volvo Cars employed approximately 41,000 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg, Camarillo (US) and Shanghai (China).
For further information, please contact:
Volvo Cars Media Relations
+46 31-59 65 25
Volvo Cars Investor Relations
Alexander Petrofski
+46 31-793 94 00
