Volvo Car’s revenue reached a record high in 2022.

Gaishi automobile news On February 9, Volvo Cars announced its 2022 financial report.

Last year, Volvo Car achieved a revenue of 330.1 billion Swedish kronor, a year-on-year increase of 17%, a record high, which was attributed to a better product mix, higher car prices, favorable foreign exchange and OEM contracts with Polar Star. The operating profit increased from 20.3 billion in 2021 to 22.3 billion Swedish kronor, but the operating profit rate dropped from 7.2% in 2021 to 6.8%.

Excluding joint ventures and associated companies, the operating profit of Volvo Cars reached SEK 17.9 billion, down 15.7% from 2021, and the annual operating profit rate was 5.4%. Despite the favorable product mix and strong pricing, the annual operating profit is still affected by the decline in output caused by production restrictions, the increase in raw materials and freight costs, and the purchase of semiconductor spot.

During 2023, the company expects that the price of raw materials, especially lithium, will remain at a high level, and the phenomenon that semiconductors can only be purchased from the spot will continue. Volvo Cars said in a statement, "2023 looks like another challenging year, but we hope that the supply shortage related to the epidemic has passed and we will continue to see steady improvement in semiconductor supply. At present, our automobile demand is very strong, and it is expected that automobile retail sales will achieve steady double-digit growth in 2023. "

In the past year, Volvo Cars and its peers have been facing the problem of chip shortage, which has affected Volvo’s production from time to time, causing some factories to be forced to suspend production sometimes. Other supply chain problems, energy crisis and high inflation also make the company’s development path more difficult.

However, Volvo Car reiterated its goal for 2025, including selling 1.2 million cars every year by 2025, 50% of which will come from pure electric vehicles, and the carbon footprint of each car will be reduced by 40%, and the profit margin will be increased to 8%-10%.