Volvo sales fell sharply in the second quarter of 2022 - but it was able to shore up revenues and post an uptick in electrified car demand.
The Swedish marque's latest report lays bare the impact of ongoing industry headwinds – among which it cites "uncertainties in global trade, increasing raw material prices, and supply chain constraints arising out of recent pandemic lockdowns in China".
Volvo sold 143,006 cars last quarter, down 27% on the same period in 2021. The Chinese Covid lockdowns were a driving factor in this downturn, not only inhibiting the firm's ability to deliver cars to customers in China, but also to build cars at its Chengdu, Daqing and Luqiao factories.
