Volvo Cars global sales grew 30.2% in January; PHEVs and EVs account for 23% of all sales globally, 41% in Europe
Starting 2021 on a strong note, Volvo Cars reported the best January in its history as Europe, China and the US all reported increasing sales. Global sales rose by 30.2% 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% of overall volumes, while the popularity of its Recharge line-up of chargeable cars—plug-in hybrids and battery-electric vehicles—continued to grow.
The volume of Recharge models more than doubled in January year-on-year, now accounting for 23% of all Volvo cars sold globally.
In China, sales grew by 91.3% 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% 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% to 24,857 cars sold, helped by strong performances in key markets such as Sweden, Germany and the Netherlands. Recharge cars amounted to 41% of total European sales.