Volvo Cars and trucks has just introduced its to start with quarter effects. For Q1 2022, the Swedish automaker sold 148,295 motor vehicles globally, down -20% calendar year-on-year (185,700 automobiles in Q1 2021). This is because of to provide chain constraints – there’s a shortage for a distinct component, which will also influence manufacturing throughout the next quarter.
The automaker also experienced to contend with market disturbances triggered by the Russia-Ukraine conflict and Covid-19 lockdowns in Asia. Volvo Autos CEO Jim Rowan mentioned: “In the initially couple months of 2022, the war in Ukraine has wrecked life and displaced millions of innocent people. The identical war has also despatched presently rising inflation to new heights and even more disrupted offer chains that have been currently fragile.”
Of all the autos Volvo sold in the to start with a few months of the yr, 34% (or almost 50,000 models) of which ended up the electrified Recharge designs. Out of that, 8% or near to 12,000 units had been totally electric autos. This marks an on-calendar year progress of 9% and 6% respectively.
The bestselling Volvo design was after once more the XC60 with virtually 45,000 deliveries, adopted by the XC40 (ICE & PHEV) at 34,400 models and the XC90 at 22,000 units. Its major market was China with 35,700 deliveries, though the amount went down -21% from Q1 2021 owing to ongoing lockdowns in the state. It bought 22,800 vehicles in the US (down -16%), 12,300 autos in Sweden (down -36%), and 11,100 cars and trucks in the British isles (down -20%).
Regardless of the sales slump, Volvo Autos stays optimistic about its goal for the calendar year. “When summarising Volvo Cars’ general performance all through this initial quarter, I am unbelievably pleased that we have shipped this kind of steady benefits,” Rowan claimed, introducing that “the strategic course remains crystal clear and quite a great deal in emphasis.”
“The speediest transformer in the industry, a absolutely electrical model with immediate purchaser relations, and decreased carbon emissions is our way ahead. To obtain our ambitions, we will boost our speed of product enhancement, improve the resilience of our offer chain, and speed up our electronic and computer software abilities,” he spelled out. For the full 12 months 2022, Volvo Autos expects ongoing higher progress of completely electric cars.