March sales: Strong Recharge sales continue to stand out
While customers remain keen to get their hands on a new Volvo, especially one with a cord, supply chain issues continue to pose a challenge to our production.
Our global sales of Recharge cars made up 35.5 per cent of all the cars we sold in March.
When we communicated our February sales figures, we could see the supply chain situation slowly improving and production levels were on the rise. Now, a month later, production has taken a downward turn due to a lack of a certain type of semi-conductor we need to assemble sparkling new Volvos.
Customer demand remains strong, but at the moment we can’t produce cars at the pace we’d wished and planned for. This means that we’re now expecting a temporary deviation from the slightly upgoing trend we could see over the past few months. We continue to monitor the potential impact to our business to be ready for further actions whenever needed.
In March, we sold 58,667 cars around the globe, which is 22.1 per cent less than during the same month last year. In the first quarter, total sales reached 148,925, a decline of 20.1 per cent versus the same period in 2021.
Our global sales of Recharge cars made up 35.5 per cent of all the cars we sold during the month. If we’re looking only at our fully electric cars, their share made up 9 per cent of our total March sales. For the whole first quarter, Recharge sales counted for 33.6 per cent of our total sales, while fully electric cars made up almost 8 per cent.
One thing worth celebrating is that at the end of March, the number of active subscriptions had increased by an impressive 174 per cent compared with the same month last year. This was enabled by increasing customer demand in combination with a broadened offer in more markets.
In March, we sold 58,667 cars around the globe, which is 22.1 per cent less than during the same month last year.
Now, let’s zoom in on our regions for a while. While European sales fell 30.4 per cent in March, it’s encouraging to see Recharge models making up more than half of total sales. During the first quarter, European sales were down 25.6 per cent compared to the same period last year.
In China, March sales declined by 22.6 per cent compared to the same month last year. In the first quarter, we saw a sales decline of around 21 per cent versus the same period last year.
US sales in March were down 5 per cent if we compare with the same month last year, while for the first quarter, sales declined by 16.5 per cent compared to the same period in 2021.
Our top-selling model in March was the XC60, followed by the XC40 and the XC90.
+ -------------------- + ---------- + ---------- + ---------- + ---------- + ----------- + ----------- +
| **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 | 13,536 | 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% |
+ -------------------- + ---------- + ---------- + ---------- + ---------- + ----------- + ----------- +
