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Volvo Cars reports 7.2 per cent global sales growth in August

Volvo Cars maintained its sales momentum in August, with volumes up 7.2 per cent compared with the same period last year, as Europe, China and the US all reported increasing sales.

 

The company sold 51,239 cars during the month, and the volume growth was driven by continued strong demand for Volvo Cars’ award-winning SUV range.

 

In the first eight months of the year, Volvo Cars sold 383,492 cars, down 13.5 per cent compared to the same period last year.

 

Volvo Cars’ Recharge line-up of chargeable models, with a fully electric or plug-in hybrid powertrain, continued to be popular among customers. The share of Recharge models more than doubled in the first eight months of the year compared with the same period last year.

 

Volvo Cars’ sales in Europe reached 17,458 cars in August, up 4.9 per cent versus the same month last year. In the first eight months of the year, sales declined by 21.9 per cent year-on-year.

 

In China, sales reached 15,835 cars, up 11.4 per cent compared with August last year. In the first eight months of the year, sales grew by 1.5 per cent compared with the same period last year.

 

US sales in August continued to grow year-on-year during the month and reached 10,378 cars, up 12.9 per cent compared with the same month last year. In the first eight months of the year, US sales declined by 7.0 per cent, to 63,330 cars, compared to the same period last year.

 

In August, the XC60 mid-size SUV was the top-selling model for the company, followed by the XC40 compact SUV and the XC90 large SUV. During the month, SUVs accounted for 70.7 per cent of the company’s total sales, up from 63.6 per cent in the same month last year.

 

Online activities continued to show a positive trend in August, with increased demand for Volvo Cars’ subscription offer, Care by Volvo, in markets where the service is available.

  

A detailed break-up of regional sales is given below:

     


 August

 

 

 January-August

 

 

 

 

2019

2020

Change

2019

2020

Change

Europe

16,639

17,458

4.9%

216,555

169,193

-21.9%

China

14,212

15,835

11.4%

94,592

95,986

1.5%

US

9,194

10,378

12.9%

68,109

63,330

-7.0%

Other

7,751

7,568

-2.4%

63,912

54,983

-14.0%

Total

47,796

51,239

7.2%

443,168

383,492

-13.5%

 

During the first eight months of the year, the XC60 was the company’s top-selling model, with total sales of 112,560 cars (2019: 126,912 cars), followed by the XC40 with 100,913 cars (2019: 82,262 cars) and the XC90 with 53,635 cars (2019: 62,665 cars).

 

-ends-

 

Note to editors:

Care by Volvo car subscriptions are available in the UK, Germany, the Netherlands, Norway and the US.

 

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Volvo Car Group in 2019

For the 2019 financial year, Volvo Car Group recorded an operating profit of 14.3 BSEK (14.2 BSEK in 2018). Revenue over the period amounted to 274.1 BSEK (252.7 BSEK). For the full year 2019, global sales reached a record 705,452 (642,253) cars, an increase of 9.8 per cent versus 2018. The results underline the comprehensive transformation of Volvo Cars’ finances and operations in recent years, positioning the company for its next growth phase.

 

About Volvo Car Group

Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected premium car brands in the world, with sales of 705,452 cars in 2019 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.

 

In 2019, Volvo Cars employed on average approximately 41,500 (41,500) full-time employees. Volvo Cars’ head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars’ head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China), and body components in Olofström (Sweden).

 

Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected in a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to establish five million direct consumer relationships. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.

Keywords:
Sales Volumes