Volvo Cars reports 49,904 global car sales in June, which is 26.9% less than a year ago. Year-to-date sales decreased by 23.5% to 291,301.
Interestingly, the plug-in electric car sales decreased much faster than overall Volvo sales. The company explains that the Covid-19-related lockdowns in China caused a shortage of certain components primarily affecting the production of fully electric and plug-in hybrid cars.
Last month, Volvo sold 10,645 plug-ins globally, which is only 37% less than a year ago, while the share of Volvo Recharge cars in the total volume amounted to 21.3%.
On the positive side, supply constraints are easing in June, which allowed for an increase in the production of new cars. According to Volvo, demand for new cars remains robust, especially for the Recharge lineup. Results are expected to improve later this year, although the Q3 might be still challenging.
"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."
It's worth noting that Volvo's main limitation was plug-in hybrids, as all-electric car sales decreased by less than 8%.
Volvo Recharge result:
- BEVs: 2,138 (down 7.5%) and 4.3% share
- PHEVs: 8,507 (down 41%) and 17.0% share
- Total: 10,645 (down 37%) and 21.3% share
Volvo Recharge sales - June 2022
So far this year, Volvo sold over 93,000 plug-in electric cars (up 0.2%), which is 32.3% of the total. All-electric car sales amounted to 16,430 (up 210%) and 8.4% of the total.
Volvo Recharge sales YTD:
- BEVs: 22,220 (up 122%) and 7.6% share
- PHEVs: 71,741 (down 14%) and 24.6% share
- Total: 93,961 (up 0.2%) and 32.3% share
including 15,905 in the US
Geographically, most Volvo plug-in cars are sold in Europe (5,426 in June and 58,546 year-to-date). The second-largest market is the US, while China remains below 1,000 units per month.
Volvo Cars detailed sales results: