Volvo Cars global sales grew by 5.6 per cent per cent to 698,693 cars in the full year 2021, demonstrating resilience in the face of persistent supply constraints.

The results also demonstrated the continued popularity of Volvo Cars' Recharge line-up of cars with a fully electric or plug-in hybrid powertrain. Sales of Recharge models grew by 63.9 per cent in 2021, compared with 2020. Recharge cars made up 27 per cent of the company's total sales volume in 2021.

The number of Volvo cars sold online increased by 316 per cent in 2021 compared with 2020. This growth was driven by increasing customer demand in combination with a broadened offer in more markets.

The company recorded 64,436 retail deliveries in December, a decline of 18.1 per cent compared to the same month 2020. The result was significantly influenced by continued component supply shortages, which affected production and consequently deliveries to customers. The demand for Volvo Cars' products remained strong.

Almost 40 per cent of all new Volvo cars sold in December were Recharge models, whereof fully electric cars made up 7.4 per cent. In Europe, the share of Recharge cars was almost 60 per cent, while in the US it was close to 30 per cent of overall sales volumes.

In the United States, the company sold 122,173 cars last year, an increase of 10.9 per cent compared to 2020. In December, Volvo Cars sold 10,793 cars in the US.

Sales in China amounted to 171,676 cars, up 3.0 per cent compared to 2020. During December, Volvo Cars sold 14,642 cars in China.

In Europe, year-to-date sales increased by 1.8 per cent to 293,471 cars, as strong demand for the company's Recharge cars supported the sales performance. In December, Volvo Cars sold 28,561 cars in Europe.

Globally, the XC60 continues to be the best-selling model for the company in 2021, as the company sold 215,635 cars (2020: 191,696) of the model during the year. . The XC40 follows in second with total sales of 201,037 cars (2020: 185,406), while the XC90 is the third-best selling model with 108,231 cars (2020: 92,458).

			December 	 	 			January- December 	 	
			2020 		2021 	Change 	2020 		2021 		Change
Europe		 	33,633 		28,561 	-15.1% 		288,278 	293,471 	1.8%
Recharge 		14,419 		16,513 	14.5% 		89,951 		130,557 	45.1%
Plug-in hybrid 		11,228 		13,259 	18.1% 		85,504 		113,986 	33.3%
Fully electric 		3,191 		3,254 	2% 		4,447 		16,571 		272.6%
China 			18,584 		14,642 	-21.2% 		166,617 	171,676 	3.0%
Recharge 		939 		1,610 	71.5% 		5,997 		11,697	 	95.0%
Plug-in hybrid 		905 		1,416 	56.5% 		5,963 		10,792 		81.0%
Fully electric 		34 		194 	470.6% 	34 		905 	 2,561.8%

,

US 			14,244 		10,440 	-26.7% 		110,129 	122,173 	10.9%
Recharge 		1,865 		2,977 	59.6% 		7,251 		22,820 		214.7%
Plug-in hybrid 		1,765 		2,222 	25.9% 		57,096 		16,428 		131.5%
Fully electric 		100 		755 	655.0% 	155 		6,392 	 4,023.9%
Other 			12,255 		10,793 	-11.9%	 	96,689	 	111,373 	15.2%
Recharge 		2,332 		2,745 	17.7% 		12,237 		24,142 		97.3%
Plug-in hybrid 		2,309 		2,179 	-5.6% 		12,214 		22,283 		82.4%
Fully electric 		23 		566 	2,360.9% 	23 		1,859 	 7,982.6%
Total 			78,716 		64,436 	-18.1% 		661,713 	698,693 	5.6%
Recharge 		19,555 		23,845 	21.9% 		115,436 	189,216 	63.9%
Plug-in hybrid 		16,207 		19,076 	17.7% 		110,777		 163,489 	47.6%
Fully electric 		3,348 		4,769 	42,4% 		4,659		 25,727 		452,2%

Volvo Cars in 2020-2021

For the twelve months between July 2020 and June 2021, Volvo Car Group recorded an operating profit of 22.5 BSEK (14.3 BSEK in 2019). Revenue over the period amounted to 292.1 BSEK (274.1 BSEK), while global sales reached 773,000 cars.

About Volvo Car Group

Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker 'VOLCAR B'.

Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This is reflected in its ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.

As of December 2020, Volvo Cars employed approximately 40,000 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg, Camarillo (US), Sunnyvale (US) and Shanghai (China).

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