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Volvo Cars reports a 22% drop in sales in March; Electrified models increased by 36%


Volvo Car’s global sales in March accounted for 35.5% of its Recharge models while all-electric cars accounted for 9% of total sales.

Via : Automatic table HT
|
Update on:
April 4, 2022, 01:33 PM

Image file of Volvo XC40 Recharge (Volvo)
Image file of Volvo XC40 Recharge (Volvo)

Volvo Automotive recorded a 22.1% drop in global vehicle sales in March at 58,677 units despite increased customer demand. In the first quarter, the company’s vehicle sales increased gradually to a total of 148,295 units as supply chain constraints continued to ease gradually. However, due to the latest disturbances related to the lack of a particular semiconductor, the company’s second quarter production is expected to be temporarily affected.

The company’s March sales accounted for 35.5% of all Recharge models while sales of all-electric cars accounted for 9% of total sales. In the first quarter, Recharge sales accounted for 33.6% of total sales, while all-electric cars accounted for 7.9%.

(Also read | Volvo Cars partners with Starbucks to test electric vehicle charging network)

The automaker’s sales in China fell 22.6% to 12,378 vehicles in March while in the first quarter, it sold 35,698 vehicles in China, down 21.1 percent year on year. same period last year. In Europe, Volvo Cars sales in March fell 30.4% to 26,954 vehicles, with Recharge models accounting for more than half of total sales in Europe for the month. Meanwhile, in the first quarter, Volvo Cars sold 65,157 vehicles in Europe, down 25.6 percent year-on-year.

In the US, sales reached 9,428 vehicles in March, down 5.0% from the same month last year. In the first quarter of the year, Volvo Cars sold 22,757 vehicles in the US, down 16.5% year-on-year.

Volvo XC60 became the company’s best-selling model in March with 16,855 units sold, followed by XC40 with 17,584 cars and XC90 with sales of 9,141 vehicles.

Date of first publication: April 4, 2022, 01:33 PM IST



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