Volvo reports YTD growth, on track for full-year sales increase

Volvo Cars reported 8.8 percent growth in the company’s sales for the first 11 months of 2021, on track for a full-year sales increase. From January to November, the Swedish automotive brand has sold 634,257 cars, demonstrating its resilience in the face of persistent tough market conditions and supply constraints.

However, Volvo Cars recorded 52,793 retail deliveries in November — a decline of 20.7 percent compared to the same month last year. The company claims that the result was significantly influenced by continued supply shortages, which affected production and consequently deliveries to customers.

Despite these restrictions, Volvo Cars saw consistently strong demand for its products as reflected in its order books.

The company’s records also show the growing popularity of Volvo Cars’ Recharge models with over half of all new cars sold in November coming from Volvo’s Recharge lineup. Volvo Cars said that the global Recharge share was a third of total sales last month. So far this year, over 25 percent of the company’s global sales consist of Recharge models.

In Europe, this percentage is over 40 percent and in the United States, it is nearing 20 percent. Globally, sales of Recharge cars are up by over 70 percent since the start of 2021, compared to the same period in 2020.

In the United States, the company has so far sold 111,733 cars this year, an increase of 16.5 percent compared to the first 11 months of 2020. In November, Volvo Cars sold 7,667 cars in the U.S. market.

Volvo Cars sold 157,034 cars in the first 11 months in China, bringing the company’s sales figures in the Chinese market up by 6.1 percent compared to the same period in 2020. In November, Volvo Cars sold 13,418 cars in China.

In Europe, year-to-date sales increased by 4.0 percent to 264,910 cars, as strong demand for the company’s Recharge cars supported the sales performance. In November, the company sold 22,415 cars in the region.

Of all the Recharge models, the XC60 continues to be the best-selling vehicle with 195,108 units sold followed by XC40 and the XC90 raking in 184,842 and 97,365 units respectively in the first 11 months.

Photos from Volvo

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