Volvo Cars reported the strongest second-half sales numbers in the company’s history in 2020, as fast-growing demand for its electrified cars boosted the company’s recovery from the COVID-19 pandemic impact.
According to a press release, the company acted decisively to mitigate the impact of the pandemic during the first half of the year, allowing it to restart its operations quickly after a brief shutdown and embark on a strong recovery, helped by fast-growing demand for its techarge line-up of charegeable cars.
The share of Recharge models, 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 per cent, making Volvo the leading brand in the region for chargeable cars. It was also a leading plug-in hybrid brand in the US.
In China and the United States, its two largest individual markets, the company reported growing sales for the full year as it managed to more than recover a pandemic-related sales drop in the first half during the second half of the year.
“We had a great second half of the year after a tough start, gaining market share in all our main sales regions,” said Mr Lex Kerssemakers, Head of Global Commercial Operations. “We aim to build on this positive trend in 2021 as we continue to roll out new electrified Volvos and expand our online business.”
While sales dropped by 21 per cent in the first half, the company resumed its growth trajectory of recent years in the second half of 2020, reporting solid month-on-month growth from June onwards. Sales rose by 7.4 per cent to 391,751 cars in the second half compared to the same period in 2019.
Globally, Volvo Cars sold 661,713 cars in 2020, a decline of 6.2 per cent compared to 2019. Although final numbers for the full year are yet to be confirmed, the company outperformed its competitors and gained market share in all its main sales regions during the first 11 months of the year, added the release.