Sales for June were impacted by the Covid-19-related lockdowns in China which caused a shortage of certain components primarily affecting the production of fully electric and plug-in hybrid cars. Overall, Volvo Cars starts to see a marked improvement in its manufacturing situation, with the number of cars produced in June being the highest in the year. Volvo Cars anticipates, however, that the share of deliveries of fully electric and plug-in hybrid cars will continue to be impacted into the third quarter.

During the first six months of the year, Volvo Cars sold 291,301 cars, down 23.5 per cent compared to same period last year. The company's fully electric cars accounted for 7.6 per cent of total sales during this period, which more than tripled compared to the same period last year.

Nearly every third Volvo Car (32.3 per cent) sold during the first half of 2022 was a fully electric or plug-in hybrid (Recharge).

The number of active subscriptions at the end of June had increased by 122 per cent compared with the same period last year. And for the first six months of 2022, the number of Volvo cars sold online increased with 86 per cent compared to the same period in 2021. This growth was driven by increasing customer demand in combination with a broadened offer in more markets.

European sales for June reached 16,039 down 44.1 per cent compared with the same month last year. Sales of Recharge cars accounted for 33.8 per cent of the total sales in the region during the month.

Volvo Cars' US sales for the month reached 8,434 cars, down 31.2 per cent compared with June last year, with Recharge models making up 25.1 per cent of the total sales.

China sales declined by 1.3 per cent in June to 16,468 cars compared to the same month last year.

Volvo Cars' top selling model for the month was the XC60 with sales of 18,275 cars (2021: 23,038 units), followed by the XC40 at 10,194 cars (2021: 20,392 ) and the XC90 at 9,949 cars (2021: 10,579 units).

January- June
June
2022 2021 Change 2022 2021 Change

Europe 16,039 28,695 -44.1% 119,770 166,822 -28.2%
Recharge 5,426 11,566 -53.1% 58,546 68,170 -14.1%
- Plug-in hybrid 4,543 10,065 -54.9% 45,492 60,992 -25.4%
- Fully electric 883 1,501 -41.2% 13,054 7,178 81.9%

China 16,468 16,680 -1.3% 70,233 95,252 -26.3%
Recharge 675 759 -11.1% 5,042 4,133 22.0%
- Plug-in hybrid 557 716 -22.2% 4,156 3,850 7.9%
- Fully electric 118 43 174.4% 886 283 213.1%

US 8,434 12,258 -31.2% 50,585 63,754 -20.7%
Recharge 2,118 2,474 -14.4% 15,905 10,074 57.9%
- Plug-in hybrid 1,565 1,746 -10.4% 12,094 7,748 56.1%
- Fully electric 553 728 -24.0% 3,811 2,326 63.8%

Other 8,963 10,591 -15.4% 50,713 54,929 -7.7%
Recharge 2,426 1,999 21.4% 14,468 11,418 26.7%
- Plug-in hybrid 1,842 1,961 -6.1% 9,999 11,195 -10.7%
- Fully electric 584 38 1,436.8% 4,469 223 1,904.0%

Total 49,904 68,224 -26.9% 291,301 380,757 -23.5%
Recharge 10,645 16,798 -36.6% 93,961 93,795 0.2%
- Plug-in hybrid 8,507 14,488 -41.3% 71,741 83,785 -14.4%
- Fully electric 2,138 2,310 -7.5% 22,220 10,010 122.0%