Volvo Cars has announced that their car sales decreased for the month of August, with only 24% or 8,136 cars sold. This was followed by a 41% decrease for July and a 24% decrease in sales for the whole year as the company only sold 65,589 models, a much lower number than their sales last year, as reported by InsideEVs.
As per their press release on their website, the sales in Europe also went down to 15.8%, where they only sold 10,995. Fortunately, China sales sold 17,179 cars, and with this, sales for this country increased to 31%.
Despite these lowered numbers, the demand for their models remains vigorous, especially for electric vehicle cars and plug-in hybrid cars. Yet because of the demand, the company has been struggling lately with the supply of vehicles. This was a much bigger problem than the sales decrease as suppliers and plant manufacturers in China experienced lockdowns.
"Due to the lockdown in Chengdu, Volvo Cars is temporarily suspending production at a manufacturing plant there. We are assessing the impact on the business and we will continue to monitor the situation," the company's spokesperson stated.
The S60L sedan and XC60 crossover will be the most affected as these models were produced in the affected manufacturing plant.
2021 Sales V.S. 2022 Sales
Volvo's plug-in cars were very in demand last year as they really sold a lot of cars for different models. But this year, the amount of BEVs sold this year was only 206, down to 71% compared to last year. 1,174 PHEV models were sold this year, down to 8%, and 1,380 Total Recharge models, down to 30%.
Comparing the two, Volvo sold 22,000 plug-in cars for 2021, while 2022 year-to-date sales are already 18,000 plug-in cars, three months away from reporting its 12-month sales for 2022, based on a report from Reuters.
The company plans to switch and go 100% electric cars globally by the year 2030. The goal for sales is also to increase by 1.2 million units annually. The operating margin is also looking out for improvement from right to ten percent by mid-decade.
Based on these predictions, Volvo wishes to improve its sales, but it will be very challenging for the company as the global economy has also been struggling lately.
Top Selling Models
Automotive World reports that for this month, Volvo Cars' top-selling model for the month of August was the XC60 selling 16,161 cars compared to its 2021's 14,972 units sold. This was followed by the XC40, which sold 9,766 models and the XC90, with 7,678 models sold.
This month, Volvo Cars' top-selling model for the month of August was the XC60 selling 16,161 cars compared to its 2021's 14,972 units sold. This was followed by the XC40, which sold 9,766 models and the XC90, with 7,678 models sold.
The BEV will have two models, the XC40 Recharge and C40 Recharge, which offer a slim design.
This article is owned by TechTimes
Written by Inno Flores
