Volvo announced on Wednesday that delivered 47,150 vehicles in April, down 24.8 percent year-over-year. When it comes to the recharge models (Plug-in Hybrid + Fully EV), the Swedish automaker delivered 18,097 units, growing 18.7 percent from April 2021. Volvo’s Recharge models accounted for 38.4 per cent of total sales growing for the fourth consecutive month.
In 2021, Volvo sold 698,700 vehicles of which 188,649 were recharge models. When compared to 2020, the automaker increased sales of these vehicles by 63.9 percent. For the January-April period, Volvo Cars’ sales reached 195,445 cars, down 21.3 per cent compared with the same period last year.
“Demand is still strong, especially for Volvo Cars’ electrified vehicles and the share of Recharge models as part of total sales continues to increase”, Volvo said.
In April, Covid-19 lockdowns in eastern China impacted retail deliveries in China and added more challenges to already weakened global supply chains, resulting in additional loss of production. As previously communicated at the end of the first quarter, Volvo Cars informed of a supplier shortage of a specific type of semi-conductor, which will impact production during the second quarter. The company considers this a temporary setback and expects the supply chain restraints related to semi-conductors to improve during the second half of the year, Volvo stated.
Recently, the automaker announced its Q1 2022 results unveiling that net sales increased by 12%. “Economic activity continued to be good in Q1 2022 with high transport volumes and good construction activity in most markets. We increased sales and improved profitability”, CEO said. More information, including an interview with CEO Martin Lundstedt, is available on https://www.volvogroup.com/en/investors.html
Volvo, through the Volvo Cars Tech Fund, announced on April 19 that has made a strategic investment in StoreDot, the pioneer of extreme fast charging technologies for electric vehicles. StoreDot is on track to begin mass producing its ‘100in5’ cells as early as 2024, achieving 100 miles of charge in just five minutes. The investment gives Volvo Cars the opportunity to collaborate closely with StoreDot on exciting new battery technology, as it aims to become a pure electric car company by 2030.