Volvo Cars reports sales of 47,561 cars in January, share of electrified cars over 30 per cent

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Volvo Cars reports sales of 47, 561 cars in January, a decline by 20.2 per cent compared with the same month last year. Demand for Volvo Cars products remains strong.

While production has continued to gradually improve, retail deliveries were held back due to an increase of cars in transit. The supply situation continues to ease, but component shortages will remain a constraining factor for Volvo Cars and the auto industry.

Sales of Volvo Cars’ Recharge models increased by 11.5 per cent in January year-on-year, accounting for 31.7 per cent of all Volvo cars sold globally during the month. Sales of fully electric cars during the month more than doubled compared with the same month last year and made up 6.6 per cent of total sales.

European sales for the month fell 24.8 per cent to 18,691 cars sold. Recharge models made up 53.1 per cent of total European sales during the month.

In China, sales declined by 23.6 per cent to 14,629 cars in January.

US sales reached 7,110 cars in January, down 12.8 per cent compared with the same month last year.

In January 2022, the XC60 was the company’s top selling model with 14,516 cars (2021: 17,053 units), followed by the XC40 with 12,286 cars (2021: 17,770 units) and the XC90 with sales of 7,243 cars (2021: 7,564 units).

2021 2022
Europe 24,864 18,691
Recharge 10,154 9,926
 - Plug-in hybrid 9,078 7,940
 - Fully electric 1,076 1,986
China 19,160 14,629
Recharge 879 1,147
 - Plug-in hybrid 777 1,039
 - Fully electric 102 108
US 8,151 7,110
Recharge 815 1,908
 - Plug-in hybrid 672 1,480
 - Fully electric 143 428
Other 7,413 7,131
Recharge 1,666 2,090
 - Plug-in hybrid 1,648 1,485
 - Fully electric 18 605
Total 59,588 47,561
Recharge 13,514 15,071
 - Plug-in hybrid 12,175 11,944
 - Fully electric 1,339 3,127

For further information please contact:

Volvo Cars Media Relations
+46 31-59 65 25

Volvo Cars Investor Relations
Anna Oxenstierna
+46 31-793 94 00


Volvo Cars in 2020-2021

For the twelve months between July 2020 and June 2021, Volvo Car Group recorded an operating profit of 22.5 BSEK (14.3 BSEK in 2019). Revenue over the period amounted to 292.1 BSEK (274.1 BSEK), while global sales reached 773,000 cars.

About Volvo Car Group

Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.

Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This is reflected in its ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.

As of December 2020, Volvo Cars employed approximately 40,000 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg, Camarillo (US), Sunnyvale (US) and Shanghai (China).