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Volvo cars reports 14.2 per cent global sales growth in July

Volvo cars reports 14.2 per cent global sales growth in July
Volvo Cars posted strong sales in July, with volumes up 14.2 per cent compared with the same period last year.

The company sold 62,291 cars during the month, as Europe, the US and China all reported a growth in sales compared with the same period last year. Sales in Europe returned to growth in July, continuing its positive trend as markets lifted restrictions put in place to curb the Covid-19 pandemic.

The double-digit volume growth during the month was driven by a continued strong demand for Volvo Cars’ award-winning SUV range. The V60 estate and the US-built S60 saloon also contributed to the strong performance.

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 seven months of the year compared with the same period last year.

According to recent IHS data, Volvo Cars was the leading electrified premium brand in Europe during the first half of 2020, with Recharge cars making up almost a quarter of total deliveries in the region.

In the first seven months of the year, Volvo Cars sold 332,253 cars, down 16.0 per cent compared with the same period last year.

Volvo Cars’ sales in Europe reached 28,700 cars in July, up 12.5 per cent versus the same month last year. In the first seven months of the year, sales declined by 24.1 per cent year-on-year.

US sales in July continued to grow year-on-year during the month and reached 9,697 cars, up 10.3 per cent compared with the same month last year. In the first seven months of the year, US sales declined by 10.1 per cent to 52,952 cars compared with the same period last year.

In China, sales reached 14,410 cars, up 14.0 per cent compared with July last year. In the first seven months of the year, sales declined by 0.3 per cent compared with the same period last year.

In July, the XC40 compact SUV was the top-selling model for the company, followed by the XC60 mid-size SUV and the XC90 large SUV. During the month, SUVs accounted for 72.8 per cent of the company’s total sales, up from 63.4 per cent in the same month last year.

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

 

 July

 

 

 January-July

 

 

 

2019

2020

Change

2019

2020

Change

Europe

25,518

28,700

12.5%

199,916

151,735

-24.1%

China

12,639

14,410

14.0%

80,380

80,151

-0.3%

US

8,795

9,697

10.3%

58,915

52,952

-10.1%

Other

7,546

9,484

24.9%

56,161

47,415

-15.6%

Total

54,546

62,291

14.2%

395,372

332,253

-16.0%

During the first seven months of the year, the XC60 was the company’s top-selling model, with total sales of 96,622 cars (2019: 111,943 cars), followed by the XC40 with 87,085 cars (2019: 74,062 cars) and the XC90 with 46,669 cars (2019: 55,443 cars).

*Article Source http://www.media.volvocars.com/uk