Volvo closed the first quarter of 2022 with encouraging results, despite the problems related to
the shortage of components that have had an impact on the production process and which will continue to be a determining factor during the second quarter of 2022. The company has closed the first quarter with over 7 billion euros in turnover with 580 million euros in profits. Furthermore, between January and March, the company sold over 148,000 units worldwide, making the most of the recent innovations in the range. The data collected by Volvo is higher than analysts' estimates for the quarterly.
In addition, the company expects a slight increase in overall sales volumes for the whole of 2022 compared to 2021 but the results will inevitably be conditioned by external factors. The uncertainty on the overall data for 2022 will therefore remain high. Meanwhile, however, plug-in hybrid and electric models are driving Volvo's growth and are particularly popular with customers. Electrified models accounted for 34% of total sales with electric models accounting for about 8% of the brand's sales.
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