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2022-04-04

Volvo Car AB (publ): Volvo Cars reports sales of 58,667 cars in March, share of electrified cars increased to 36%

Volvo Cars reports sales of 58,677 cars in March, a decline by 22.1 per cent compared with the same month last year. Customer demand remains strong.

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 (https://www.media.volvocars.com/global/en-gb/media/pressreleases/297541/volvo-cars-expects-reduced-production-due-to-temporary-worsened-semiconductor-situation), 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 per cent of all Volvo cars sold globally during the month. Sales of fully electric cars made up 9.0 per cent of total sales. In the first quarter, Recharge sales made up 33.6 per cent of total sales, while fully electric cars made up 7.9 per cent.

The number of active subscriptions at the end of March had increased by 174 per cent 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 per cent to 26,954 cars sold, with Recharge models making up more than half of total European sales during the month. In the first quarter, Volvo Cars sold 65,157 cars in Europe, down 25.6 per cent compared with the same period last year.

In China, sales declined by 22.6 per cent to 12,378 cars in March. In the first quarter, Volvo Cars sold 35,698 cars in China, a decline of 21.1 per cent compared with the same period last year.

US sales reached 9,428 cars in March, down 5.0 per cent compared with the same month last year. In the first quarter of the year, Volvo Cars sold 22,757 cars in the US, down 16.5 per cent 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).

March January- March
2022 2021 Change 2022 2021 Change

Europe 26,954 38,723 -30.4% 65,157 87,550 -25.6%
Recharge 14,290 15,271 -6.4% 34,110 35,842 -4.8%
- Plug-in hybrid 10,894 14,099 -22.7% 26,518 32,741 -19.0%
- Fully electric 3,396 1,172 189.8% 7,592 3,101 144.8%

China 12,378 15,999 -22.6% 35,698 45,242 -21.1%
Recharge 1,314 754 74.3% 3,143 1,941 61.9%
- Plug-in hybrid 1,051 726 44.8% 2,708 1,777 52.4%
- Fully electric 263 28 839.3% 435 164 165.2%

US 9,428 9,924 -5.0% 22,757 27,239 -16.5%
Recharge 2,430 1,268 91.6% 6,018 3,121 92.8%
- Plug-in hybrid 1,756 1,216 44.4% 4,360 2,801 55.7%
- Fully electric 674 52 1,196.2% 1,658 320 418.1%

Other 9,907 10,669 -7.1% 24,683 25,667 -3.8%
Recharge 2,804 2,211 26.8% 6,503 5,650 15.1%
- Plug-in hybrid 1,881 2,200 -14.5% 4,467 5,620 -20.5%
- Fully electric 923 11 8,290.9% 2,036 30 6,686.7%

Total 58,667 75,315 -22.1% 148,295 185,698 -20.1%
Recharge 20,838 19,504 6.8% 49,774 46,554 6.9%
- Plug-in hybrid 15,582 18,241 -14.6% 38,053 42,939 -11.4%
- Fully electric 5,256 1,263 316.2% 11,721 3,615 224.2%

 

For further information please contact:

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

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

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