Volvo posts 14.2% growth in July riding on success of XC40 and XC60

Volvo Cars posted strong sales in July, with volumes up 14.2% compared with the same period last year.

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 last year. 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.

The double digit volume growth during the month was driven by a continued strong demand for Volvo Car’s \SUV range. The V60 estate and the US-built S60 sedan, also contributed to the strong performance.

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 seven months, compared with the same period last year.

According to recent IHS data, Volvo Cars was the leading electrified premium brand in Europe during the first half of 2020, with Recharge cars making up almost a quarter of total deliveries in the region.

In the first seven months, Volvo Cars sold 332,253 units, down 16% compared with the same period last year.

Volvo Cars’ sales in Europe reached 28,700 cars in July, up 12.5% versus the same month last year. In the first seven months of the year, sales declined by 24.1 per cent year-on-year.

US sales in July continued to grow year-on-year during the month and reached 9,697 cars, up 10.3 per cent compared with the same month last year. In the first seven months, US sales declined by 10.1 per cent to 52,952 units, compared with the same period last year.

In China, sales reached 14,410 cars, up 14.0% compared with July last year. In the first seven months of the year, sales declined by 0.3 per cent, compared with the same period last year.

In July, the XC40 compact SUV was the top selling model for the company, followed by the XC60 mid-size SUV and the XC90 large SUV. During the month, SUVs accounted for 72.8 per cent of the company’s total sales, up from 63.4 per cent in same month last year.

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