Volvo Cars reports almost a 24% decrease in car sales in the US in the month of August, to 8,136. That’s another significant decrease, after nearly 41% in July. Year-to-date, the company sold 65,589 cars, which is almost 24% less than a year ago.
The company has been clearly struggling with the vehicle supply for quite some time, explaining basically every time that demand remains robust.
Unfortunately, supply issues with plug-in models (Volvo Recharge) appears to be even bigger in the recent months, as we can see a much deeper decrease in sales.
Last month, a total of 1,380 plugs-in were sold, which is 30% less than a year ago (after a 58% decrease in July). Volvo Recharge models stand for 17% of the total Volvo volume.
There is a hope that things will improve later this year, but as usual, there is no guarantee, especially considering how challenging the current economy is.
Volvo plug-in car sales:
- BEVs: 206 (down 71% year-over-year)
- PHEVs: 1,174 (down 8% year-over-year)
- Total Recharge: 1,380 (down 30% year-over-year)
So far this year, Volvo sold in the US over 18,000 plug-in cars.
Volvo plug-in car sales year-to-date in 2022:
- BEVs: 4,111 (up 4% year-over-year)
- PHEVs: 14,135 (up 36% year-over-year)
- Total Recharge: 18,246 (up 27% year-over-year)
Volvo outlined a plan to gradually switch towards 100% electric cars globally by 2030 and increase sales to 1.2 million units annually. By the way, the operating margin is expected to improve to 8-10 percent by mid-decade.
The new 2023 model year lineup in the US already consists only of electrified models (mild hybrid, hybrid, plug-in hybrid or all-electric), but the BEV offer is slim with just two models (XC40 Recharge and C40 Recharge).
Soon, Volvo is expected to introduce an all-new, all-electric models, based on a next-generation platform, which will be utilized also by Polestar. It should give Volvo a vital BEV-boost in 2023.