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

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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.

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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.

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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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