Volvo Cars reports 43,666 global car sales in August, which is 4.6% down year-over-year, but at the same time, it's the lowest decrease in over a year. During the first eight months of the year, sales decreased by 21.5% to 379,631.
In terms of plug-in electric cars (Volvo Recharge), last month the company sold 9,582 units (down 13% year-over-year), which is 21.9% of the total volume.
The Swedish brand explains that demand remains strong, especially for its Recharge models, but production is still limited, which affects sales:
"The positive trend in production continued into August. However, the pace of normalisation was affected by power cuts and Covid-19 outbreaks in China. In addition, lack of availability of components, notably semiconductors, continues to influence manufacturing output, which impacted Volvo Cars’ retail deliveries during the month."
Interestingly, all-electric car sales improved by almost 52% year-over-year to 2,494, but the result is still about two times lower than the peak of 5,256 in March.
Volvo Recharge result:
- BEVs: 2,494 (up 52%) and 5.7% share
- PHEVs: 7,088 (down 25%) and 16.2% share
- Total: 9,582 (down 13%) and 21.9% share
Volvo Recharge sales - August 2022
So far this year, Volvo sold over 113,000 plug-in electric cars, which is slightly less than a year ago at this point.
Volvo Recharge sales YTD:
- BEVs: 26,297 (up 91%) and 6.9% share
- PHEVs: 86,842 (down 18%) and 22.9% share
- Total: 113,139 (down 5%) and 29.8% share
Geographically, as usual, most Volvo plug-in cars were sold in Europe (5,223 in August and 70,113 year-to-date).
Volvo's lineup includes two all-electric models, the Volvo C40 Recharge and the Volvo XC40 Recharge. In August, the company sold 1,613 electric XC40 (down 2%) and 881 C40 (new). In the not-too-distant future, Volvo will introduce next-generation BEVs, which are expected to boost sales.
Volvo Cars detailed sales results: