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.

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