Volvo sales slide by 17.2% in Feb.

MANILA: Last February, Volvo Cars sold 42,067 vehicles, down 17.2% versus the same month last year.

The company said that production is improving month after month as supply chain limitations gradually ease. Volvo is reaching its production levels from a year ago which are, however, still below its goal. Retail deliveries will often be delayed by two to three months due to high production volumes.

Supply shortages will continue to be a constraint for Volvo Cars and the entire auto industry. The escalating military war in Ukraine may have a severe impact on the supply chain because armed conflicts disrupt transport and commercial activity in surrounding regions.  The matter is being closely monitored by the company.

Sales of Volvo Recharge models in February accounted for 33% of all Volvo cars sold worldwide. When compared to the same month last year, sales of fully electric vehicles climbed by 229.5%, accounting for 7.9% of total sales.

Volvo Cars sold 89,628 units in the first two months of this year, down 18.8% from the same period last year. Recharge sales climbed by 7% over the same period last year, representing 32.3% of overall sales. Sales of fully electric vehicles climbed by 174.9%, accounting for 7.2% of overall sales.

In February, European sales plummeted 18.6% to 19,512 units, with Recharge models accounting for more than half of total European sales. Volvo Cars sold 38,203 units in Europe in the first two months of the year, down 21.8% from the same period last year.

Sales in China last February fell by 13.8% to 8,691 units. Volvo Cars delivered 23,320 cars in China in the first two months of this year, a 20.3% decrease from the same period last year.

A total of 6,219 cars were sold in the United States last February, down 32.1% from the same month of the previous year. Volvo sold 13,329 units in the United States in the first two months of this year, down 23% from the same period last year.

The XC60 was Volvo's best-selling model in February 2022, with 13,503 units sold, followed by the XC40 with 12,611 units and the XC90 with 5,582 units.

Photo from Volvo Cars

Also read: Volvo C40 Recharge gets Top Safety Pick+ safety rating from US IIHS