Volvo reports best January in its history
Volvo is often considered the alternative premium marque to the likes of BMW, Mercedes-Benz and Audi. But with the latest sales results, that could be turning around!
Starting 2021 on a strong note, Volvo Cars reported the best January in its history. Global sales rose by 30.2 percent to 59 588 cars, boosted by a strong year-on-year performance in China where the company more than recovered losses from earlier COVID-19 shutdowns.
Demand for Volvo Cars’ SUV line-up remained strong and represented 71 percent of overall volumes, while the popularity of its Recharge line-up of chargeable cars continued to grow. The volume of Recharge models more than doubled in January year-on-year, now accounting for 23 percent of all Volvo cars sold globally.
In China, sales grew by 91.3 percent to 19 160 cars in January, as Volvo Cars’ biggest market more than recovered from a pandemic-related sales drop in the first month of last year. The sales increase in China was helped by strong overall market demand, but also boosted by a sales ramp-up of the company’s XC40 compact SUV and the S60 sedan.
US sales reached 8 151 cars in January, an increase of 32.4 percent compared with the same period last year. The company’s award-winning SUV line-up, led by the XC90, drove the strong sales increase.
European sales for the month increased by 9.0 percent to 24 857 cars sold, helped by strong performances in key markets such as Sweden, Germany and the Netherlands. Recharge cars amounted to 41 percent of total European sales.
January 2020). This is encouraging given the fact that the XC40 had a good 2020; it had an 8.40% share of its segment in 2019; that grew to 14.70% in 2020,” he reveals.
In January 2021, globally the XC40 was the company’s top selling model with 17 770 cars (2020: 10 802 units), followed by the XC60 with 17 053 cars (2020: 13 353 units) and the XC90 with sales of 7 564 cars (2020: 6 902 units).
Maruszewski says that 2020 was a landmark year for Volvo. “On a global front, we introduced our first all-electric car, the XC40 Recharge Pure Electric, which will come to South Africa soon. Our plug-in hybrid line-up range also enjoyed growth. We’re facing 2021 with optimism and we look forward to continuing to meet our customers’ ever-evolving needs,” he concludes.
The Swedes Are On A Roll!