Volvo Had Best Ever Second Half In 2020

07 Jan 2021 | 11.50 am

Volvo Had Best Ever Second Half In 2020

Global sales bounce due to Recharge electric range

07 Jan 2021 | 11.50 am

Volvo Cars says it recorded the strongest second-half sales numbers in the company’s history last year, as growing demand for electric cars boosted recovery from the effects of the Covid-19 pandemic.

The share of Recharge models of total sales — those with a fully electric or plug-in hybrid powertrain — more than doubled in 2020 compared to 2019. In Europe, the share of Recharge cars of overall sales was 29%, which Volvo says makes it the leading brand in the region for chargeable cars.

While sales dropped by 21% in the first half, the company reported monthly growth from June onwards. Sales rose by 7.4% to 391,750 cars in the second half compared to the same period in 2019.

Head of global commercial operations Lex Kerssemakers said: “We had a great second half of the year after a tough start, gaining market share in all our main sales regions.  We aim to build on this positive trend in 2021 as we continue to roll out new electrified Volvos and expand our online business.”

Globally, Volvo sold 661,700 cars in 2020, a decline of 6.2% compared to 2019. Although final numbers for the full year are yet to be confirmed, the company said it outperformed its competitors and gained market share in all main sales regions.

During the year, the XC60 was the top selling model with total sales of 191,700 cars (2019: 204,970 cars), followed by the XC40 with 185,400 cars (2019: 139,850 cars) and the XC90 with 92,460 cars (2019: 100,730 cars).

Volvo plans to add several fully electric cars to the range over the next few years, and to make 50% of global sales fully electric by 2025, with the rest hybrid vehicles.

Operating profit for the 2019 financial year hit €1.42 billion, while revenue amounted to almost €28 billion. 

Photo: David Thomas, Managing Director Volvo Car Ireland . (Pic: Conor McCabe)

 

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