Volvo Cars sold 49,904 units in June, totaling 291,301 units in the first half

Volvo Cars recently released global sales figures for June.In June 2022, Volvo sold a total of 49,904 vehicles, a year-on-year decrease of 26.9%.In the first half of this year, the company's sales totaled 291,301 vehicles, down 23.5% year-on-year.

At the same time, among the cars sold by Volvo Cars in the first half of the year, the sales of pure electricor plug-in hybrid vehicles were basically the same as last year, but they accounted for more than 30% of the total sales; The cumulative sales volume was 22,220 units, accounting for 7.6% of the total sales volume, more than doubled compared with the same period last year.

Image source: Volvo official website

Volvo Cars said that a shortage of some parts due to the impact of the new crown epidemic has affected the production of the Recharge series of models, namely pure electric and plug-in hybrid vehicles, resulting in a year-on-year decline in sales in June.

Volvo Cars said that the company's production capacity is improving significantly, and Junecar productionhas reached the highest level of the year.In addition, the market demand for Volvo cars is still strong, especially for the Recharge series of electric vehicles.However, the delivery of pure electric and plug-in hybrid vehicles has not been able to keep up with market demand for a short time, and this situation is expected to continue into the third quarter.

It is worth mentioning that in March this year, Volvo Cars warned that supply chain problems caused by semiconductor shortages and the recurrence of the new crown epidemic will continue to disrupt the company's car production in the second quarter.However, Volvo Cars does not believe the impact will change the company's full-year sales growth forecast.

In terms of models, Volvo Cars sold the most XC60 in June with 18,275 units (23,038 units in the same period last year); followed by the XC40 with 10,194 units (same period last year: 20,392 units); and 9,949 units of the XC90 (same period last year: 10,579).

In terms of different regions, Volvo Cars' sales in the European and American markets have declined significantly.Among them, the company sold 16,039 vehicles in Europe in June, down 44.1% year-on-year; in the first half of the year, it sold 119,770 vehicles, down 28.2% year-on-year.However, Volvo's pure electricvehicle salesin Europe achieved a significant increase of 81.9% in the first half of the year, reaching 13,054 units.In addition, pure electric vehicles and plug-in hybrid vehicles together accounted for nearly half of sales in the first half of the year.

In the United States, Volvo Cars sold 8,434 vehicles in June, down 31.2% year-on-year; in the first half of the year, it sold 50,585 vehicles, down 20.7% year-on-year.Among them, the Recharge series models sold 15,905 units in the first half of the year, a year-on-year increase of 57.9%; the sales of pure electric vehicles increased by 63.8% year-on-year to 3,811 units.

In the Chinese market, Volvo Cars sales in June were basically the same as last year, at 16,468; the cumulative sales in the first half of the year was 70,233, down 26.3% year-on-year.Among them, 5,042 Recharge series models were sold in the first half of the year, a year-on-year increase of 22%; 886 pure electric vehicles were sold, a year-on-year increase of 213.1%.

In the first half of this year, a number of Volvo models launched in China have been upgraded.Among them, the Volvo XC40 pure electric version brings three configuration versions of the four-wheel drive high-performance version PRO, long-range version and long-range PRO.The RECHARGE T8 plug-in hybrid models of the new XC60 and new S90 are also getting an upgrade.Recently, the pure electric SUV model C40 rolled off the production line in Taizhou factory. The maximum battery life of this model is about 550 kilometers. It is planned to be launched in early July.

It is worth mentioning that the number of cars sold online by Volvo in the first half of the year increased by 86% compared to the same period in 2021.

According to the previous plan, Volvo announced that it will increase the proportion of pure electric models to 50% by 2025 and 100% by 2030, when all pure electric models will be sold online.Last summer, Volvo also announced it would invest $118 million in an assembly plant in Ridgeville, South Carolina, to build electric vehicles, including vehicles from performance brand Polestar and an electric version of the XC90 crossover.

At the EV100 Forum held in March this year, Jim Rowan, the new CEO and President of Volvo Cars, reiterated that the company will continue to drive innovation and become a pure electricluxury carcompany by 2030 .

On June 17, Volvo Cars broke ground on a new electric vehicle technology center at its headquarters in Mahwah, New Jersey, according to foreign media reports.The 12,800-square-foot technical center is expected to open in March next year and will be used to train dealer technicians from the United States, Canada and South America.The new facility will be Volvo Cars' sixth technical training center in North America.

Anders Gustafsson, senior vice president of Volvo Cars Americas and president of Volvo Cars America, declined to disclose the company's investment in the new training center, but said it was an important project.The center will be located on a 20-acre site with 50charging stations, some of which may eventually be open to the public.

In early July, Volvo Cars announced that it will build its third pure electric vehicle manufacturing plant in Slovakia, Europe.According to reports, the new plant plans to invest 1.2 billion euros and is designed to produce 250,000 vehicles a year.The factory will start construction in 2023, install equipment and production lines in 2024, and start mass production of next-generation pure electric models in 2026.It will complement Volvo's factories in Sweden and Belgium, covering the European region.

In addition, Volvo Cars also promoted and supported the listing of its high-end pure electric vehicle brand Polestar on Nasdaq in the United States.On the opening day of June 24, Polestar’s stock price once reached $13.36.As of the close on July 5, the company's stock price was $9.56, with a total market capitalization of $20.222 billion.In addition to the currently listed Polestar 1 and Polestar 2, the company also plans to launch 3 new models in the future, namely the high-performance SUV Polestar 3, the high-end medium and large SUV Polestar 4, and the two-door sports car Polestar 5. Improve product layout.