Published on September 7th, 2020 | by Subhash Nair0
Volvo Cars Sales UP This August in Key Markets
Signs of recovery in the premium car segment is what Volvo Cars seems to be seeing, with sales this August up by 7.2% versus August 2019. Europe, China and the US were key performs, all showing an increase in year-on-year sales for the month of August.
Volvo Cars sold just over 51,000 cars in these markets last month; 17,458 in Europe, 15,835 in China, and 10,378 in the US.
In other markets, Volvo Cars haven’t yet made as much headway (overall). There’s still another quarter to go, though, and the company is doing pretty well considering the battering COVID-19 has dealt the automotive industry.
Here’s the press release with more.
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 a continued strong demand for Volvo Car’s award-winning SUV range.
In the first eight months, Volvo Cars sold 383,492 cars, down 13.5 per cent compared with 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, 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, US sales declined by 7.0 per cent to 63,330 cars, compared with 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 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.
During the first eight months, 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)