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Volvo Cars reports global sales of 56,883 cars in July

GLOBAL ANNOUNCEMENT

Volvo Cars reported global sales of 56,883 cars in July, down 8.7 percent compared with the same period last year.

 

The decrease was mainly a result of lower sales numbers in Europe, as well as an unusually strong global sales performance in July last year, when dealers started to open for deliveries after Covid-19 lockdowns. Further, volumes were impacted by the global shortage of semiconductors.

 

In the first seven months of 2021, the company sold 437,640 cars globally, up 31.7 percent compared with the same period last year.

 

Volvo Cars’ Recharge line-up of chargeable Volvo models continued its strong momentum in July, accounting for 25.5 percent of all cars sold in the month. In Europe, over 43 percent of all cars sold in July was from the Recharge line-up.

 

US sales reached 11,575 cars in the month of July, up 19.4 percent compared to the same period last year. The increase was led by a strong customer demand, mainly for the XC60 which was the best-selling model, followed by the XC90. For the first seven months, US sales rose by 42.3 percent to 75,329 cars.

 

In China, sales reached 14,550 cars, up 1 percent compared with July last year. In the first seven months of the year, sales increased by 37 percent, compared with the same period last year. The highest selling car in China in July was the XC60, followed by the S90.

 

Volvo Cars’ July sales in Europe reached 22,408 cars, down 22 percent compared with the same period last year. In contrast to the overall decrease in Europe, the UK, one of Volvo Cars’ top European markets, posted a strong sales performance for the month. The highest selling car in Europe in July was the XC40, followed by the XC60. Total sales in Europe for the period January to July reached 189,230 cars.

 

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

 

 

July

 

 

January- July

 

 

 

2020

2021

Change

2020

2021

Change

Europe

28,743

22,408

-22.0%

151,934

189,230

24.5%

China

14,410

14,550

1.0%

80,151

109,802

37.0%

US

9,697

11,575

19.4%

52,952

75,329

42.3%

Other

9,441

8,350

-11.6%

47,216

63,279

34.0%

Total

62,291

56,883

-8.7%

332,253

437,640

31.7%

 

For the month of July, the XC60 was the top selling model with sales of 19,132 cars (2020: 17,861), followed by the XC40 with total sales of 15,097 cars (2020: 18,726 units), and the Volvo XC90 with 9,694 cars sold (2020: 8,751 units).

 

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Volvo Car Group in 2020

For the 2020 financial year, Volvo Car Group recorded an operating profit of 8.5 BSEK (14.3 BSEK in 2019). Revenue over the period amounted to 262.8 BSEK (274.1 BSEK). For the full year of 2020, global sales reached 661,713 cars (705,452), a decline of 6.2 per cent compared to 2019.

 

About Volvo Car Group

Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales of 661,713 cars in 2020 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.

 

As of December 2020, Volvo Cars employed approximately 40,000 (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).

 

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 into 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
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