Volvo Cars reports 4.8 per cent global sales growth in September

Volvo | Oct 2, 2020 at 2:00 AM

Volvo Cars global sales continued to grow in September, with volumes up 4.8 per cent compared with the same period last year, driven by double digit sales increases in China and the US.

The company sold 67,636 cars during the month and the volume growth was driven by a continued strong demand for Volvo Cars’ award-winning SUV range.

In the first nine months, Volvo Cars sold 451,128 cars, down 11.1 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 nine months, compared with the same period last year.

In China, sales reached 17,292 cars, up 15.9 per cent compared with September last year and the highest monthly sales volume to date. In the first nine months of the year, sales grew by 3.4 per cent, compared with the same period last year.

US sales in September continued to grow year-on-year during the month and reached 10,274 cars, up 10.2 per cent compared with the same month last year. In the first nine months, US sales declined by 4.9 per cent to 73,604 cars, compared with the same period last year.

Volvo Cars’ sales in Europe reached 30,868 cars in September, down 0.6 per cent versus the same month last year. In the the first nine months of the year, sales declined by 19.2 per cent year-on-year.

In September, the XC40 compact SUV was the top selling model for Volvo Cars, followed by the XC60 mid-size SUV and the XC90 large SUV. During the month, SUVs accounted for 69.8 per cent of the company’s total sales, down from 72.6 per cent in same month last year.

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

During the first nine months, the XC60 was the top selling model with 131,091 cars (2019: 145,629 cars), followed by XC40 with total sales of 121,905 cars (2019: 95,475 cars) and the XC90 with 61,327 cars (2019: 71,830 cars)


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 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 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.