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Volvo Cars global sales drop 20.2% in January; electrified cars accounted for 31.7% of total

Volvo Cars reported sales of 47,561 cars in January, a decline by 20.2% compared with the same month last year. While production has continued to gradually improve, retail deliveries were held back due to an increase of cars in transit. The supply situation continues to ease, but component shortages will remain a constraining factor, the company said.

Sales of Volvo Cars’ Recharge (electrified) models increased by 11.5% in January year-on-year to 15,071 units, accounting for 31.7% of all Volvo cars sold globally during the month. In January 2021, Recharge models had a 22.7% share—13,514 units out of 59,588 total sales.

Of the Recharge models sold in January 2022, 11,944 were plug-in hybrids (79% of the Recharge total, 25% of overall total), while 3,127 were fully electric (21% of Recharge total, 6.6% of total sales). The sales of fully electric cars during the month more than doubled compared with the same month last year.

European sales for the month fell 24.8% to 18,691 cars sold. Recharge models made up 53.1% of total European sales during the month (9,926 units—down 2%—of which 7,940 were PHEVs and 1,986 were BEVs).

In China, total sales declined by 23.6% to 14,629 cars in January. Recharge sales increased 30% to 1,147 units, of which 1,039 were PHEVs and 108 were BEVs.

US sales reached 7,110 cars in January, down 12.8% compared with the same month last year. Recharge models accounted for 27% of total sales, at 1,908 units. PHEVs took 71% of that Recharge total at 1,480 units, while BEVs sold 428 units.

In January 2022, the XC60 was the company’s top selling model with 14,516 cars (2021: 17,053 units), followed by the XC40 with 12,286 cars (2021: 17,770 units) and the XC90 with sales of 7,243 cars (2021: 7,564 units).


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