Volvo's Global Sales Down By 8% As Coronavirus Impacts Business In China

Volvo Cars reported global sales of 39,742 cars in February, down 8 per cent compared with the same period last year. The company said that volumes were impacted due to continued sales pressure in China as a result of the coronavirus. In other regions though, Volvo maintained growth momentum for the month, with volume increasing by 18.2 per cent in the United States and 1.9 per cent in Europe in February compared with the same period last year.

The company's top three European markets of Sweden, Germany and the United Kingdom also posted a strong sales performance for the month. In February, Volvo SUVs maintained a steady growth with total SUV volumes reaching 27,518 units, accounting for 69.2 per cent of the company's total sales. In February, the XC40 was the top-selling SUV, followed by the XC60 and the XC90.

The Volvo XC90 was a strong seller for the company in February 2020 

Volvo Cars' Recharge line-up of electric models also saw an 88.4 per cent jump in February sales compared with the same period last year. The US reported a solid sales performance in February with volumes up 18.2 per cent compared with the same period last year to 7,841 cars.

Volvo Cars' Recharge line-up of electric models also saw an 88.4 per cent jump in February sales 

In Europe, sales reached 23,442 cars, up 1.9 per cent compared with the same period last year. Sweden, the company's largest market in the region, reported a 5.3 per cent year-on-year growth in volumes, while sales in Germany and UK increased by 20.6 per cent and 10.8 per cent respecitvely.

Sales in China were impacted in February by the spread of the coronavirus, as many retail outlets were closed down for the month. Total volumes in February were down 81.5 per cent compared with last year to 1,205 cars.

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