Volvo Cars reports a huge 30.2% decrease of global car sales to 47,223, related to a shortage of semiconductor components. The year-to-date result is positive though - 530,649 (up 17.6%).

The company ensures that demand for the cars remains strong, which means that we should expect a rebound once the production is not constrained.

The plug-in Recharge subbrand share out of the total Volvo sales volume was 26.9% (a new high this year), which is over 12,750 (mostly in Europe). That includes about 1,700 sold in the U.S.

"Volvo Cars’ Recharge line-up of chargeable models, with a fully electric or plug-in hybrid powertrain, continued to be popular among customers. The share of Recharge models sold globally reached 24.9 per cent for the first nine months and 26.9 per cent for the month of September."

About every fourth Volvo sold year-to-date was a plug-in (over 132,000 YTD). The lineup consists of several plug-in hybrids and one all-electric model - Volvo XC40 Recharge, which soon will be joined by the Volvo C40 Recharge.

Volvo Recharge sales - September 2021

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By 2025, Volvo intends to increase the share of BEVs in its global sales volume to 50%, and 100% by 2030.

The electrification is expected to accelerate in 2022 or 2023, when the company will launch a new wave of all-electric models.

In the long-term, Volvo intends to focus on range and fast charging, as well as to launch a new, developed and designed from the ground-up models, envisioned as 100% electric.

Volvo Cars detailed results:

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