Volvo Cars reported sales of 43,666 cars in August, down 4.6 per cent compared to the same month last year. Overall, the underlying demand for the company’s cars remains robust, especially for its Recharge range of pure electric and plug-in hybrid cars.
The company’s line of Recharge models represented 21.9 per cent of the sales last month, with fully electric cars, including the C40 Recharge and XC40 Recharge SUV, accounting for 5.7 percent of sales. Global sales for pure electric vehicles during August totalled 2,494 units compared to 1,644 for the same month in 2021, this is an impressive increase of 51.7 percent.
The positive trend in production continued into August. However, the pace of normalisation was affected by power cuts and Covid-19 outbreaks in China. In addition, the lack of availability of components, notably semiconductors, continues to influence manufacturing output, which impacted Volvo Cars’ retail deliveries during the month.
European sales for August reached 10,995, down 15.8 percent compared to the same month last year. Sales of Recharge pure electric cars in the region during the month totalled 1,454 compared to 767 in August 2021, an increase of 89.6 percent. This shows there is a huge appetite for the brand’s electric vehicles in the region and that transition towards electric cars is continuing to gain pace.
In China, pure electric car sales for August totalled 492 which was up from just 52 for the same period last year. This is an increase of 846.2 percent. In the US, sales of Volvo’s pure electric cars didn’t fare so well falling from 708 in August 2021 to 206 in 2022, a 70.9 percent fall.
In other regions, pure electric vehicle sales rose by 192.3 percent from 117 units in August 2021 to 342 units in 2022. Overall, sales for the brand’s electric vehicles are hugely positive with a 51.7 percent increase for the month.
Back in June, Volvo Cars announced it will establish a third manufacturing plant in Slovakia. This will position the company well to meet the continued demand from its customers for electric vehicles and capture future growth potential.
The new state-of-the-art plant will be climate neutral and build only electric cars. This underpins the company’s ambition to become fully electric by 2030 and climate neutral by 2040.