2020’s poor sales becomes 2021’s vast improvement for Volvo Cars despite the component shortage.
Volvo Cars was having a tough time last month matching October 2020’s sales numbers due to a component shortage. However, the demand for Volvo Cars’ products remains very strong and they’ve actually exceeded their sales numbers for the first ten months of 2020 by 12.6%. So far in 2021, Volvo Cars have sold 581,464 vehicles.
Electric and Electrified “Recharge” Sales Are Up
Volvo Cars are extremely aggressive when it comes to electrification and it’s starting to pay off. Their electric and plug-in hybrid electric vehicle sales now make up more than a quarter of all their cars sold in 2021 so far. In fact, in October alone, 31.5% of all Volvo Car sales were electrified/electric.
Sales by Region
China and the United States were strong markets for Volvo Cars with over 143,000 Volvos sold in China versus just over 104,000 sold in the US for the first 10 months of 2021. In the US, the uptake of Recharge vehicles has only accounted for 24.1% of sales.
The number one region for sales was Europe, where 242,495 Volvo Cars were sold, up 6.1% versus last year. Two non-EU member states, the United Kingdom and Sweden, were the top markets in terms of demand.
Volvo Cars’ best seller remains the XC60 with nearly 180,000 units sold in the first ten months of 2021 followed by the XC40 with over 170,000 units sold in the same period. The flagship XC90 continues to sell well with nearly 90,000 units moved.
A detailed break-up of regional sales is given below:
Other Developments For Volvo Cars
2021 was also a landmark year for Volvo Cars in a number of ways. This year, the company released its first dedicated all-electric vehicle, the Volvo C40 and committed not to offer leather in any of their pure electric vehicles. It also had its best-ever half-year of sales and operating profits. In addition, the company also spun off their powertrain division to form a JV with Geely called Aurobay before listing on the stock exchange for the first time.
