February sales: rising Recharge sales amid tough market conditions

It continues to be a tough market out there, as is reflected in our February sales result. While the supply chain situation continues to ease slowly and production is improving month over month, our current production levels are still below our ambitions. On top of that, the escalating military conflict in the Ukraine creates an additional challenge for us to deal with going forward.

We sold 42,067 cars in February, a decline of around 17 per cent compared to the same month in 2021. Sales of Recharge cars continue to be brisk, however, with their share of global sales now up to 33 per cent.

In total, we sold almost 14,000 Recharge cars in February, an increase of 2.4 per cent versus February 2021. Even better is that our sales of fully electric cars more than doubled versus February last year and made up almost 8 per cent of total sales.

Looking on a region-by-region basis, we were down in all main sales regions, but the smallest decline was in China. In the regions, too, we can see that our Recharge-cars are popular like Swedish semla pastries: for example, in Europe over half of all cars we sell are electrified, while that percentage is more than a quarter in the United States.

For the first two months, sales are down by 18.6 per cent because of those supply chain issues. So while we know underlying demand for our cars is strong and our orderbooks are looking good, we might have to wait a bit longer until we record sales growth again.

As for the conflict in the Ukraine, we know that military conflicts cause disturbances to transport and economic activity in surrounding regions, so it may have a negative impact on our supply chain. So we continue to monitor the potential impact and the potential need for further action.

Here is the breakdown of numbers for February:

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| **February** | | | **January- | | | |

| | | | February** | | | |

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| | **2022** | **2021** | **Change** | **2022** | **2021** | **Change** |

| | | | | | | |

+ -------------------- + ---------- + ---------- + ---------- + ---------- + ----------- + ----------- +

| **Europe** | **19,512** | **23,963** | **-18.6%** | **38,203** | **48,827** | **-21.8%** |

+ -------------------- + ---------- + ---------- + ---------- + ---------- + ----------- + ----------- +

| Recharge | 9,894 | 10,417 | -5.0% | 19,820 | 20,571 | -3.7% |

+ -------------------- + ---------- + ---------- + ---------- + ---------- + ----------- + ----------- +

|  - Plug-in hybrid | 7,684 | 9,564 | -19.7% | 1,657 | 1,051 | 57.7% |

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|  - Fully electric | 2,210 | 853 | 159.1% | 4,196 | 1,929 | 117.5% |

+ -------------------- + ---------- + ---------- + ---------- + ---------- + ----------- + ----------- +

| | | | | | | |

| **China** | **8,691** | **10,083** | **-13.8%** | **23,320** | **29,243** | **20.3%** |

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| Recharge | 682 | 308 | 121.4% | 1,829 | 1,187 | 54.1% |

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|  - Plug-in hybrid | 618 | 274 | 125.5% | 1,657 | 1,051 | 57.7% |

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|  - Fully electric | 64 | 34 | 88.2% | 172 | 136 | 26.5% |

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| | | | | | | |

| **US** | **6,219** | **9,164** | **-32.1%** | **13,329** | **17,315** | **-23.0%** |

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| Recharge | 1,680 | 1,038 | 61.8% | 3,588 | 1,853 | 93.6% |

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|  - Plug-in hybrid | 1,124 | 913 | 23.1% | 2,604 | 1,585 | 64.3% |

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|  - Fully electric | 556 | 125 | 344.8% | 984 | 268 | 267.2% |

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| | | | | | | |

| **Other** | **7,645** | **7,585** | **0.8%** | **14,776** | **14,998** | **-1.5%** |

+ -------------------- + ---------- + ---------- + ---------- + ---------- + ----------- + ----------- +

| Recharge | 1,609 | 1,773 | -9.2% | 3,699 | 3,439 | 7.6% |

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|  - Plug-in hybrid | 1,101 | 1,772 | 37.9% | 2,586 | 3,420 | -24.4% |

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|  - Fully electric | 508 | 1 | 50,700.0% | 1,113 | 19 | 5,757.9% |

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| | | | | | | |

| **Total** | **42,067** | **50,795** | **-17.2%** | **89,628** | **110,383** | **-18.8%** |

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| Recharge | 13,865 | 13,536 | 2.4% | 28,936 | 27,050 | 7.0% |

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|  - Plug-in hybrid | 10,527 | 12,523 | -15.9% | 22,471 | 24,698 | -9.0% |

+ -------------------- + ---------- + ---------- + ---------- + ---------- + ----------- + ----------- +

|  - Fully electric | 3,338 | 1,013 | 229.5% | 6,465 | 2,352 | 174.9% |

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