Volvo Cars reports sales of 58,667 cars worldwide in March, down 22.1%; electrified share increased to 36%
Volvo Cars reported sales of 58,677 cars worldwide in March, a decline by 22.1% compared with the same month last year. 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.
In March, 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%.
The number of active subscriptions at the end of March had increased by 174% compared with the same period last year. This growth was driven by increasing customer demand in combination with a broadened offer in more markets.
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. Of those Recharge models, 3,396 were fully electric (24%). In the first quarter, Volvo Cars sold 65,157 cars in Europe, down 25.6% 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. Sales of Recharge vehicle in China in March climbed 74.3% to 1,314 units, with 263 of those (20%) being fully electric.
US sales reached 9,428 cars in March, down 5.0% compared with the same month last year. Recharge vehicles accounted for 26% (2,430 units), with 28% (674 units) being fully electric. 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.
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).