Volvo reports 24.8% sales drop in April
MANILA: Volvo Cars sold 47,150 units globally in April, falling 24.8% from the same month in 2021. Demand remains strong, particularly for Volvo electrified vehicles, and the percentage of Recharge models sold continues to rise.
KEY TAKEAWAYS
What was the best-selling Volvo model in April?
The XC60 was the best-selling Volvo model in April, with 14,952 units sold.How much was the share of Recharge models in Volvo's overall sales in April?
The share of Recharge models increased to 38.4%.Deliveries of Recharge models increased by 18.7% in April compared to the same month of the previous year, representing 38.4% of overall sales. The share of fully electric vehicles was 10%.
From January to April, Volvo Cars sold a total of 195,445 units, dropping 21.3% from the same period last year.
COVID-19 lockdowns in eastern China last April disrupted retail deliveries in China and exacerbated already strained global supply chains, causing significant production losses.
Volvo was advised of a supplier shortage of a certain kind of semiconductor toward the end of the first quarter of the year, which will disrupt production during the second quarter. This is a temporary issue, according to the company, and supply chain constraints relating to semiconductors are expected to improve in the second half of the year.
A total of 19,822 Volvo cars were sold in Europe last April, declining 23.2% from the same month last year. Recharge sales amounted for 51.4% of overall sales in the region.
Volvo sold 10,022 units in the US last April, down 9.2% from the same month last year, with Recharge models accounting for 44.1% of overall sales.
China sales fell 47.8% to 8,579 units last April, compared to the same month of the previous year.
The XC60 was the best-selling Volvo model for the month, with 14,952 units sold, followed by the XC40 with 13,876 units and the XC90 with 8,208 units.
Photo from Volvo Cars
Also read: Volvo S60 Recharge is 'US News & World Report' Best Luxury Plug-In Hybrid
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