Volvo Cars reports 148,295 global car sales in Q1 2022, which is 20% less than a year ago due to parts supply issues (especially semiconductors). A similar rate of decline was noted in March: -22% to 58,667.

The Swedish brand warns that the situation might be challenging during Q2 as well:

"During the first quarter, the number of cars sold increased gradually to a total of 148,295 cars as the supply chain constraints affecting Volvo Cars and the auto industry continued to slowly ease. However, due to a disturbance related to lack of a specific semi-conductor, Volvo Cars is now experiencing a temporary deviation from that trend which is expected to impact production during the second quarter."

The Volvo Recharge plug-in sub-brand most likely is also heavily affected as the rate of growth decreased significantly compared to previous years.

In Q1, the company sold almost 50,000 plug-in cars (49,774 to be precise), which is 7% more than a year ago. That's a third (33.6%) of the total Volvo volume.

Out of that, over 20,000 units were sold in March (up 7% year-over-year) and 35.5%.

In March, all-electric car sales improved to over 5,000 units (most likely for the first time in a single month), which is over four times more than in the previous year. According to data, in March Volvo sold 3,620 all-electric XC40 and 1,636 C40.

Volvo Recharge sales in March:

  • BEVs: 5,256 (up 316%) and 9.0% share
  • PHEVs: 15,582 (down 15%) and 26.6% share
  • Total: 20,838 (up 7%) and 35.5% share

Volvo Recharge sales - March 2022

So far this year, Volvo sold 49,774  plug-in electric cars (up 7%), which is 33.6% of the total. All-electric car sales amounted to 11,721 (up 224%) and 7.9% of the total.

An interesting thing is that the plug-in hybrid sales are in decline for the third consecutive month.

Volvo Recharge sales YTD:

Europe remains the largest market for Volvo plug-ins. In Q1, the company sold 34,110 plug-ins in Europe (down 5%), which is 72% of all Volvo plug-ins globally, and 40.9% of the total Volvo volume in Europe.

Volvo Cars detailed results:

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