Volvo Cars: best first quarter in history
Volvo Cars reported the best first quarter in its history. The company’s global sales increased by 40,8% compared to the same period last year. For March, Volvo Cars sold 75 315 cars globally, up 62,3% compared with the same month last year.
Total sales during the period amounted to 185 698 cars, up from 131 889 cars in the same period in 2020. In Europe and the US, the company managed to improve sales while coping with the pandemic’s ongoing effects. China has by now recovered from the impact of the pandemic.
China biggest increase, Europe biggest market
In China, sales increased by 117,7% in the first three months of the year, compared with the first quarter of last year. Total first-quarter sales reached 45 242 cars, increasing from 20 780 in the same period 2020.
In the January-March period, US sales reached 27 239 cars. That is an increase of 39,8% compared with the same period last year, which was affected by the pandemic as many states implemented stay-at-home orders.
In the first three months of 2021, the company’s European sales grew to 87 457 cars, up 24,0% compared to the same period last year. The increase was mainly driven by markets that managed to cope with pandemic-related shutdowns and a strong sales increase in Sweden and the UK.
In March, the XC40 was the top-selling model with sales of 23 958 cars (12 462 last year), followed by the XC60, with total sales of 21 186 cars (12 730), and the Volvo XC90 (9 893 cars against 5,758 in March 2020).
Electrified and online becoming popular
Volvo Cars’ Recharge line-up of electrified models (fully electric or plug-in hybrid) remained strong and accounted for 26,0% of all Volvo cars sold globally in March. In Europe, the share of Recharge cars in overall sales was 39,0%, almost two out of five.
For the first quarter of 2021, Volvo Cars also more than tripled its numbers of subscriptions sold online through its Care by Volvo offer, compared to the same period last year. It also saw quarter-on-quarter growth of 22%.
In Belgium, at the end of the first quarter, Volvo has a market share of 4,51% and has registered 5 372 vehicles, representing a growth of 22,8% compared to 2020 (in March, the growth even reached 90,7% compared to March 2020).
The XC40, Volvo’s compact SUV, is the brand’s bestseller with over 3 400 registrations. Until now, the XC40 is also the best-selling model in Belgium this year, all brands combined.
“Volvo Car Belgium is doing well at the beginning of the year despite the health crisis. Our SUV range continues to attract customers, as evidenced by the sales of the Volvo XC40 and the XC60. Plug-in hybrids also represent more than 35% of our sales,” says Elfi Janssens, Managing Director of Volvo Car Belux.