“2023 looks like a tough year,” said Volvo when presenting its annual results, which registered a 15.7% decrease in their operating profit (Ebit) compared to 2021. This indicator ended the year with 17,900 million Swedish crowns,
€1,611 million. The operating margin was 5.4%.
These numbers would be slightly better if Volvo Cars’ stake in Polestar, the 100% electric car spin-off traded on New York’s Nasdaq, was taken into account. All in all, the margin is 6.8% and the Ebit is 2,000 million euros, 10% more than in 2021.
These figures stem from two historic milestones for the Swedish brand. On the one hand,
turnover rose to 29,727 million, 17% more than a year ago This increase is due, they say, “to an ideal product mix, better vehicle price profitability, favorable exchange rates and contract manufacturing with Polestar.”
On the other hand, Volvo is making progress in registrations of Recharge models, as it calls its electric and plug-in hybrids. Over the full year, the share of the total sales mix was 33%. In the last quarter this was 41%. Pure zero emissions accounted for 18%.
The company is hopeful that the pandemic supply shortfall from China is behind us and that it will continue to see a gradual improvement in semiconductor supplies, two of the factors behind the results.
“In 2022, we managed to weather the major turbulences of the year and made significant progress on our strategic objectives as we accelerate towards the goal of an all-electric vehicle by the end of the decade. become a car manufacturer and have zero impact on climate by 2040,” he said.
jim mountain ashchairman and general manager.
Already halfway through the decade, Volvo Cars wants 50% of its global sales to be fully electric vehicles, with a 40% lower CO2 footprint per vehicle and a profitability between 8% and 10%. “We are firmly on our strategic path,” added the manager.
Production improved in the second half of the year, especially in the fourth quarter. During the last six months of the year, production increased by 15% compared to the first half year, thanks to improved supply.
The number of active subscriptions at the end of 2022 has increased by 49% compared to last year. Over the full year 2022, the number of Volvo cars sold online has increased by 17% compared to 2021. This increase was due to growing demand and the expansion of the offer into new markets.
Source: La Verdad
I am Mary Fitzgerald, a professional journalist and author of the Today Times Live. My specialty is in writing and reporting on technology-related topics. I have spent the last seven years extensively researching and understanding the field of technology so I can properly inform my readers about developments in this ever-evolving world.
