Volvo Cars report 17.6% sales growth from Jan. to Sept.

XC60

Volvo Cars has submitted its third-quarter financial reports showing growth despite a challenging year where COVID-19 related supplier shutdowns have caused a global material shortage.

The company sold 530,649 units from January to September, translating to a 17.6-percent increase over last year’s sales figures.

Sales of Volvo cars online have increased over 360 percent compared to the number of cars the Swedish automaker has sold through digital and virtual platforms in the past year. Volvo Cars believes that this growth was driven by increasing customer demand in combination with a broadened offer in more markets.

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On that note, the Volvo Cars Recharge lineup of EVs — with a fully electric or plug-in hybrid powertrain — continued to be popular among the brand’s customers. That said, the share of Recharge models sold globally reached 24.9 percent for the first nine months and 26.9 percent for the month of September.

In the US, sales from January to September landed at 95,365 units which Volvo Cars says was a 29.6-percent increase over last year’s sales in the same period. However, for the month of September alone, sales declined by nine percent compared to its US sales in 2020, claiming that the dip was primarily due to a lack of available cars.

Volvo Cars sales in Europe reached 220,371 units in the first nine months of 2021 showing a 10-percent increase over last year’s sales from January to September. And much like what Volvo Cars experienced in the US region, sales for the month of September dropped by a staggering 41.5 percent compared to the company’s last year September sales.

According to Volvo Cars, the sales performance for the month of September was heavily affected by the lack of available cars, affecting sales in markets such as Sweden, the United Kingdom, Belgium, and Italy.

In China, one of Volvo Cars’ largest markets, sales reached 132,610 units. Compared to Volvo’s sales in the region last year, these numbers showed a 17.1 increase over sales from January to September 2020. Following the trend of the two aforementioned markets, their September sales in the Chinese region fell by 43.9 percent.

Meanwhile, Volvo Cars continues to see potential in the XC60 as it continues to be a global commercial success. From January to September, XC60 sales recorded 162,596 units, followed by the XC40 with total sales of 156,920 cars, and the Volvo XC90 with 80,402 units sold.

Photos from Volvo Cars

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