Scott Olson
Volvo (OTCPK:VLVOF) reports sales of 615,121 cars for FY2022, down 12% Y/Y.
The share of fully electric Volvo cars reached 10.9% during the year, compared with 3.7% last year.
Sales were impacted by challenges across the supply chain, as well as production restraints caused by component shortages and Covid-related lockdowns in China.
Demand however stayed robust.
In December, company sold 72,663, up 12.8% Y/Y, where fully electric cars accounted for 20.1% of global sales
The share of overall Recharge cars with pure electric and plug-in hybrid powertrains reached 43.8% during December 2022.
Region-wise: US sold 102,038 cars last year, a decrease of 16.5% from prior year; China amounted to 162,322 cars, down 5.4%; Europe decreased by 15.7% to 247,413 cars.
