2022 is set to be a very bad year for car sales in Europe. Many car manufacturers struggle with parts shortages and logistics. A number of factories have had to reduce the production rate and there are waiting lists for many models.
One of those who notice this well is Volvo. They have just presented figures for the second quarter which show a significant decrease in the number of cars sold. 143,000 new Volvos this quarter are 27 percent less than what they delivered in the same period last year. Volvo then sold 195,000 cars.
New cuts
Naturally, this also affects the result, but financially Volvo must be said to be doing well. They had revenues of SEK 71.3 billion in this period. The operating profit for Volvo in isolation ended at NOK 4.6 billion.
Volvo explains the decline in the number of cars with parts shortages that has lasted for several quarters. They have also been hit hard by new corona closures in China. This has not only extended to the sale and delivery of cars in China. It has also affected Volvo’s production of cars in the country – and in Europe. The rechargeable Recharge models will be particularly affected here.
Here came the news: Diesel cars cut out in Norway
– Volvo has had to stop production at several of its factories in recent years. First due to the corona pandemic, then came challenges with both parts and logistics. Photo: NTB
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Electric cars are increasing
Volvo uses this designation for plug-in hybrids and pure electric cars. These accounted for 31 per cent of sales in the second quarter, an increase of 24 per cent. According to Volvo, the number would have been even higher if they had not had production challenges. The goal for 2022 is for electric cars to make up at least 10 percent of sales.
After many years of growth, Volvo now expects that sales in 2022 will end at roughly the same level as in 2021, perhaps slightly down. Last year they sold a total of 698,693 cars.
This is the car Volvo never made
– The electric car C40 is the latest from Volvo, this is also their second best-selling model in Norway.
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Also falls in Norway
According to Broom’s experience, Volvo also has challenges with delivery times for cars in Norway. So far this year, the number of newly registered Volvos is down by 48.7 per cent. This gives the brand seventh place in the registration statistics.
Here at home, electric cars account for a large part of sales. The XC40 has sold 1,919 copies as of June, while the slightly more sporty C40 has sold 920 copies. A total of 4,116 new Volvos were registered in Norway in the first six months of the year.
Sales should have fallen – yet the opposite is true
Video: This is one of Norway’s most popular used cars
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