Recharge EV makes up 33% of Volvo Cars sold in February

Recharge EV makes up 33% of Volvo Cars sold in February

Sales of Volvo Cars’ Recharge models made up for 33% of all Volvo cars sold globally during the month, the company reports. Sales of fully electric cars increased by 229.5% compared with the same month last year and made up 7.9% of total sales. Volvo Cars reports sales of 42,067 cars in February (EVs and ICE), a decline of 17.2% compared with the same month last year.

In the first two months of the year, Volvo Cars sold 89,628 cars, a decline of 18.8% compared with the same period last year. Recharge sales increased by 7% in the first two months of the year, compared with the same period last year, accounting for 32.3% of total sales. Fully electric cars increased by 174.9% and made up 7.2% of total sales during the period.

U.S. sales reached 6,219 cars in February, down 32.1% compared with the same month last year. In the first two months of the year, Volvo Cars sold 13,329 cars in the U.S., down 23.0% compared with the same period last year.

As the supply chain constraints continue to slowly ease, production is improving month over month, the company says. The company is approaching its year-ago production levels, which is still below expectations. Production volumes will typically impact retail deliveries with a delay of two to three months.

Supply shortages will remain a constraining factor for Volvo Cars and the auto industry. The escalating military conflict in Ukraine may have a negative impact on the supply chain as military conflicts cause disturbances to transport and economic activity in surrounding regions, Volvo Cars says.

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