Volvo recovers in the second quarter of 2022

The four-wheel market continues to adapt little by little to the new times where the supply crisis has been in the foreground. There are many brands that have stepped forward, and have recognized that the …

The four-wheel market continues to adapt little by little to the new times where the supply crisis has been in the foreground. There are many brands that have stepped forward, and have recognized that the supply crisis with the covid 19 pandemic and the war in Ukraine is in the foreground. All this has caused commodity prices to rise and supply chain restrictions due to lockdowns in China. In that case, Volvo has suffered several drops in its sales volume, which they expect to recover in the next quarter.

Between the months of April and June managed to sell some 143,006 models in the retail market, a decrease of 27% compared to the same period of the previous year. Revenue was SEK 71.3 billion, down 2% from the same period last year.

From the brand they have indicated that they make positive reading “We are pleased to have achieved stable financial results. Demand for our products remains strong and we maintain our clear position that the challenges for the business in the short term will not violate our resolve to achieve the strategic objectives in the medium and long term”, Jim Rowan, president of Volvo, pointed out.

In recent months, Volvo has noticed a stabilisation in the supply chain, recovering production little by little in June. Therefore, the firm expects wholesale to be higher than in 2021, but at points of sale it will surely be lower. In the second quarter, Recharge sales accounted for 31% of total sales, an increase of 24% over the same period last year, which could have been higher without supply constraints.

The company’s plans to reduce CO2 remain on track. In the first semester, thes CO2 emissions were 10 % lower compared to the 2018 baseline, in line with the company’s target of reducing CO2 by 40% per vehicle by 2025.

Leave a Comment

Best Cars for Teens