Volvo Cars reports sales of 47,150 units in April, share of electrified cars increased to 38.4 pc

Demand is still strong, especially for Volvo Cars’ electrified vehicles and the share of Recharge models as part of total sales continues to increase.

In April, Volvo Cars' electrified recharge models grew 18.7 percent compared with the same month in 2021 accounting for 38.4 percent of total sales. The share of fully electric cars stood at 10 percent.

For the January-April period, Volvo Cars’ sales reached 195,445 cars, down 21.3 percent compared with the same period last year.

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.

European sales for April reached 19,822 cars, down 23.2 percent compared with the same month last year. Volvo’s electrified Recharge sales accounted for 51.4 percent of the total sales in the region during the month.

Volvo Cars’ US sales for the month reached 10,022 cars, down 9.2 percent compared with April last year, with recharge models making up 44.1 percent of the total sales.

China sales declined 47.8 percent in April to 8,579 cars compared to the same month last year.

Volvo’s top-selling model for the month was the XC60 with sales of 14,952 cars (2021: 17,925 units), followed by the XC40 at 13,876 cars (2021: 19,833) and the XC90 at 8,208 cars (2021: 9,371 units).

In 2021, Volvo Car Group recorded an operating profit of 20.3 BSEK. Revenue in 2021 amounted to 282.0 BSEK, while global sales reached 698,700 cars.