US: Volvo Plug-In Car Sales Increased 22% In May 2022

Supply constraints significantly affect the company's results.

By: Mark Kane

Jun 6, 2022 at 3:00pm ET

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Volvo reports a significant decrease in its car sales in the US in May - by 29.1% year-over-year to 9,372. It deepens the year-to-date fall to 18.1% (42,151).

The Swedish brand is highly affected by supply constraints, which impacts also Volvo plug-in car sales.

Anders Gustafsson, Senior Vice President, Volvo Car Americas and President and CEO, Volvo Car USA explains that demand has nothing to do with lower sales:

“Demand for our cars remains strong but we foresee continued inventory challenges ahead,”

Last month, a total of 3,348 plugs-in were sold, which is 21.7% more than a year ago and 35.7% of the total volume (compared to 34% in Canada). In California, the Volvo Recharge sales accounted for more than three quarters (77%) of total sales.

The situation does not help to expand all-electric car sales (XC40 Recharge and C40 Recharge), as the number of deliveries actually decreased year-over-year.

Volvo plug-in car sales in May 2022:

BEVs: 807 (down 15% year-over-year)
PHEVs: 2,541 (up 41% year-over-year)
Total Recharge: 3,348 (up 22% year-over-year)

So far this year, Volvo sold in the US over 13,000 plug-in cars, compared to over 22,000 in 12 months of 2021.

Volvo plug-in car sales year-to-date in 2022:

BEVs: 3,258 (up 104% year-over-year)
PHEVs: 10,529 (up 75% year-over-year)
Total Recharge: 13,787 (up 81% year-over-year)

Hopefully, the current situation will not delay Volvo's electrification plans. For the 2023 model year lineup, which will arrive this summer, Volvo prepared only electrified models (mild hybrid, hybrid, plug-in hybrid or all-electric).

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Volvo already is one of the most electrified premium brands, as roughly a third of its car sales are rechargeable models.

The share of plug-ins, and then all-electric models, is expected to gradually expand to 100% by 2030. Key to achieving that will be next-generation models based on new platforms, most likely starting next year.