Volvo Sees Growth In US, China And European Markets In June

The lockdown caused due to the coronavirus pandemic, has had serious consequences when it comes to the automotive sector. But as markets opens, sales have resumed and carmakers are getting back into the groove. Volvo Cars sold 61,483 cars in June, which is down by 2.1 per cent compared with the same month last year. The company saw growth in sales in markets like US, China and even Europe. Volvo Cars also managed to mitigate the impact of the corona pandemic and keep plants open led to a limitation of the number of non-production days at the company's Torslanda plant to 15, well below the industry average.

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Online initiatives, like the quick launch of Volvo Cars' Stay Home Store, also contributed to the rebound. In the first six months, Volvo Cars sold 269,962 cars, down 20.8 per cent compared with the same period last year. US sales in June stood at 10,385 cars, up 4.5 per cent per cent compared with the same month last year as sales bounced back strongly as states started to open up.

The top-selling car for Volvo in June, worldwide, was the XC60

In the first six months, US sales declined by 13.7 per cent to 43,255 cars, compared with the same period last year. In China, sales continued to grow year-on-year during the month of June and reached 15,105 cars, up 14.1 per cent compared with June last year. In the first six months of the year, sales declined by 3 per cent, compared with the same period last year. Sales in Europe during the month of June continued to show signs of recovery compared with the previous month as more countries in the region started to open up. Sales in Europe reached 28,277 cars in June, down 6.5 per cent versus the same month last year. In the first six months of the year, sales declined by 29.5 per cent year-on-year.

We see a promising V-shape recovery.
China was the first market to recover followed by USA in May.
Now in June also the EU sales is strongly recovering, +3% vs last year.
It's however back to a new normal. Increased online sales and close to 20% of sales were plug-in hybrids.

— Håkan Samuelsson (@hakan_samuel) July 8, 2020

Hakan Samuelsson, CEO Volvo Cars, took to twitter to talk about this growth seen post lockdown. He tweeted, “We see a promising V-shape recovery.China was the first market to recover followed by USA in May. Now in June also the EU sales is strongly recovering, +3% vs last year. It's however back to a new normal. Increased online sales and close to 20% of sales were plug-in hybrids.”

SUVs accounted for 71.2 percent of the company's total sales in June

In June, the XC60 mid-size SUV was the top selling model for the company, followed by the XC40 compact SUV and the XC90 large SUV. During the month, SUVs accounted for 71.2 per cent of the company's total sales, up from 60 per cent in same month last year.