Volvo Cars reports 49,356 global car sales in September, which is 4.5% more than a year ago - the first positive result after 14 consecutive months of decline. During the first nine months of the year, sales decreased by 19.2% to 428,987.
The company says that demand for the company’s cars remains robust, "especially for its Recharge range of pure electric and plug-in hybrid cars," but there are still manufacturing/supply issues:
"Manufacturing output, which had seen a normalisation trend in previous months, continued to be impacted in September by plant closures due to Covid-19 outbreaks in China, as well as global disruptions in the supply chain."
In terms of plug-in electric cars (Volvo Recharge), last month the company sold 15,436 units (up 21% year-over-year), which is 31.3% of the total volume.
More importantly, all-electric car sales hit a new monthly record of 6,072 units (up 271%), taking a record 12.3% share. Plug-in hybrids were slightly down (for the ninth month in a row).
Volvo Recharge result:
- BEVs: 6,072 (up 271%) and 12.3% share
- PHEVs: 9,364 (down 15%) and 19.0% share
- Total: 15,436 (up 21%) and 31.3% share
Volvo Recharge sales - September 2022
During the third quarter, Volvo Recharge sales amounted to 34,614 (down 10% year-over-year).
So far this year, Volvo sold over 128,000 plug-in electric cars, which is almost a third of the total volume.
Volvo Recharge sales YTD:
- BEVs: 32,369 (up 110%) and 7.5% share
- PHEVs: 96,206 (down 18%) and 22.4% share
- Total: 128,575 (down 3%) and 30.0% share
For reference, in 12 months of 2021, Volvo sold almost 190,000 plug-in electric cars.
Considering the recent result and a significant increase in all-electric car sales, we are cautiously optimistic about the future - although it might take a bit of time to ultimately solve manufacturing constraints.
Geographically, as usual, most Volvo plug-in cars were sold in Europe (11,201 in September and 81,314 year-to-date).
In the US, sales decreased in September, by 31% year-over-year to 1,169 (154 BEVs and 1,015 PHEVs).
Volvo's lineup includes two all-electric models, the Volvo C40 Recharge and the Volvo XC40 Recharge. In September, the company sold 3,857 electric XC40 (up 136%) and 2,215 C40 (new). Both numbers are record highs.
In the not-too-distant future, Volvo will introduce next-generation BEVs, which are expected to boost sales. The first in line is the Volvo EX90 - an electric successor to the outgoing Volvo XC90.
Volvo Cars detailed sales results:
