Volvo Cars announced on Monday that delivered 58,677 vehicles in March 2022, a 22.1% decline year-over-year. When it comes to rechargeable vehicles, sales of Volvo Cars’ recharge models made up 35.5% of all Volvo cars sold globally during the month. Sales of fully electric cars made up 9.0% of total sales. In the first quarter, Recharge sales made up 33.6% of total sales, while fully electric cars made up 7.9 per cent. In March 2022, the XC60 was the company’s top selling model with 16,855 cars (2021: 21,186 units), followed by the XC40 with 17,584 cars (2021: 23,958 units) and the XC90 with sales of 9,141 cars (2021: 9,893 units).
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. — Volvo stated.
European sales in March fell 30.4% to 26,954 cars sold, with Recharge models making up more than half of total European sales during the month. In the first quarter, Volvo Cars sold 65,157 cars in Europe, down 25.6 per cent compared with the same period last year.
In China, sales declined by 22.6% to 12,378 cars in March. In the first quarter, Volvo Cars sold 35,698 cars in China, a decline of 21.1% compared with the same period last year.
US sales reached 9,428 cars in March, down 5.0% compared with the same month last year. In the first quarter of the year, Volvo Cars sold 22,757 cars in the US, down 16.5% compared with the same period last year.
Volvo’s CEO was among the invited CEOs to speech at the 8th China EV 100 (held in Beijing from March 25 to 27), being the first public appearance of Mr. Jim Rowan since he took up his new position at Volvo Cars.
“Volvo Cars has always been a pioneer in mobility that not just protects you, your loved ones and the environment, but also gives you enjoyment and convenience in mobility.” Volvo Cars’ strategy combines the century-long strength of product quality with cutting-edge investments in technology to deliver a new experience for everyone built on Volvo Cars’ fundamental values.
Volvo Cars announced recently that is experiencing a temporary worsened production situation, expected to last throughout the second quarter due to lack of a specific type of semi-conductor. The company said that will work with suppliers and partners to resolve any disturbances to production and deliver vehicles to customers “as soon as possible”.
“Over the past year, the auto industry has been impacted by the shortage of semi-conductors and Volvo Cars has previously communicated that it sees a gradual improvement in the supply of semi-conductors and production output month over month. However, due to this specific disturbance Volvo Cars now expects a temporary deviation from that trend.” — the company said.
Last November, Volvo Chief Financial Officer (CFO) Bjorn Annwall said that the company wants to build a third factory in Europe after 2025. The company targets selling 1.2 million vehicles annually by 2025.