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Volvo posts double digit volume growth in July 2020

2020-08-18 17:00
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2020 Volvo XC60. Image: Motorpress

• Volvo saw a 16% drop in worldwide sales in the first seventh months of the year compared to the same period last year

• The brand's SUVs (XC40, XC60 and XC90) saw the company post increased volumes in July 2020.

• The 14.2% increase in sales in July was a marked improvement on the data from last year.

Many carmakers have struggled to sell cars due to the global pandemic as demand reduced across the world. 

Swedish brand Volvo said their global sales for the first seven months of 2020 were 16% down on the same period last year. 

In July the Geely-owned carmaker saw green shoots with volumes up 14.2% in July compared with the same period in 2019.

The company sold 62 291 cars during the month, as Europe, US and China all reported a growth in sales compared with the same period in 2019.

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. 

Electric and plug-in hybrid models prove popular

The V60 estate and the US-built S60 sedan, also contributed to the strong performance. The brand's 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, compared with the same period last year. The company capped off a good period as the leading electrified premium brand in Europe during the first half of the year.

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Image: Motorpress

Europe

In Europe sales were at 28 700 cars in July, up 12.5% versus the same month last year. However, sales in the first seven months of the year declined by 24.1% year-on-year.

United States

US sales in July continued to grow year-on-year during the month and reached 9697 cars, up 10.3% compared with the same month last year.

Again, the pandemic affected regions slowed down sales. In the first seven months, US sales declined by 10.1% to 52 952 cars, compared with the same period last year.

China

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

XC40 top seller worldwide in July

In July, the XC40 was the top selling model for the company, followed by the XC60 and the XC90. During the month, SUVs accounted for 72.8% of the company’s total sales, up from 63.4% in same month last year.

Volvo XC90 R-Design T8 Twin

Image: Motorpress

XC60 best-selling model 

During the first seven months, the XC60 was the company's top selling model with total sales of 96 622, followed by the XC40 with 87 085 and the XC90 with 46 669. 

Local sales

According to Yvette Greyvenstein of Volvo Car South Africa, Volvo retail sales locally during July were outstanding, with the company doubling its volumes versus June 2020.

"We also doubled sales of the XC60, which was our top-selling model in July. XC90 sales were exceptional last month; they grew by 550%. During the month of July, SUVs accounted for 93.6% of sales," she reveals.

Compiled by Sean Parker
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Read more on:    volvo  |  xc40  |  xc90  |  south africa  |  car sales

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