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2022-06-02

Volvo Car AB (publ): Volvo Cars reports sales of 45,952 cars in May, share of fully electric cars stands at 7.9%

Volvo Cars today reported retail sales of 45,952 cars in May, down 28.3 per cent compared with the same month last year. Demand for the company's cars remains strong, especially for its Recharge line-up of electrified cars.

In May the share of fully electric cars grew from last year to 7.9 per cent. Sales of Recharge models represented 33.6 per cent of total sales, an increase of 10 percentage points compared with the same month in 2021.
During May, the Covid-19-related lockdowns in eastern China continued to add more stress to already strained global supply chains, resulting in loss of production. The company has recently seen signs of improvement in supply with gradual easing of restrictions, allowing for a slight improvement in production volumes. The expectation is that production will progressively increase.
Orders for fully electric Volvo cars continue to increase. However, the lockdowns have impacted production of fully electric cars in the second quarter and this will negatively affect the share of fully electric cars being delivered in the third quarter.
European sales for May reached 18,752 cars, down 24.3 per cent compared with the same month last year. Sales of Recharge cars accounted for 47 per cent of the total sales in the region during the month.
Volvo Cars' US sales for the month reached 9,372 down 29.1 per cent compared with May last year, with Recharge models making up 35.7 per cent of the total sales.
China sales declined by 43.8 per cent in May to 9,488 cars compared to the same month last year.
Volvo Cars' top selling model for the month was the XC60 with sales of 15,177 cars (2021: 19,835 units), followed by the XC40 at 12,097 cars (2021: 20,350) and the XC90 at 8,790 cars (2021: 9,962 units).

May January- May
2022 2021 Change 2022 2021 Change

Europe 18,752 24,761 -24.3% 103,731 138,127 -24.9%
Recharge 8,813 9,850 -10.5% 53,120 56,604 -6.2%
- Plug-in hybrid 6,966 8,488 -17.9% 40,949 50,927 -19.6%
- Fully electric 1,847 1,362 35.6% 12,171 5,677 114.6%

China 9,488 16,895 -43.8% 53,765 78,572 -31.6%
Recharge 547 749 -27% 4,374 3,374 29.4%
- Plug-in hybrid 404 709 -43% 3,599 3,134 14.8%
- Fully electric 143 40 257.5% 768 240 220%

US 9,372 13,221 -29.1% 42,151 51,496 -18.1%
Recharge 3,348 2,750 21.7% 13,787 7,600 81.4%
- Plug-in hybrid 2,541 1,805 40.8% 10,529 6,002 75.4%
- Fully electric 807 945 -14.6% 3,258 1,598 103.9%

Other 8,340 9,234 -9.7% 41,750 44,338 -5.8%
Recharge 2,737 1,843 48.5% 12,042 9,419 27.8%
- Plug-in hybrid 1,882 1,791 5.1% 8,157 9,234 -11.7%
- Fully electric 855 52 1,544.2% 3,885 185 2000%

Total 45,952 64,111 -28.3% 241,397 312,533 -22.8%
Recharge 15,445 15,192 1.7% 83,316 76,997 8.2%
- Plug-in hybrid 11,793 12,793 -7.8% 63,234 69,297 -8.7%
- Fully electric 3,652 2,399 52.2% 20,082 7,700 160.8%

 

For further information please contact:

Volvo Cars Media Relations
+46 31-59 65 25
media@volvocars.com

Volvo Cars Investor Relations
Alexander Petrofski
+46 31-793 94 00
investors@volvocars.com

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