Volvo’s Monthly Car Sales Rise Thanks to European and U.S. Demand
HELSINKI, Sept 4 (Reuters) – Swedish carmaker Volvo Cars reported an 18% increase in monthly car sales for August compared to the previous year, driven by strong demand from European and U.S. markets.
In August, Volvo sold a total of 51,636 cars, with 33% of them being fully electric or plug-in hybrids, according to the company. Sales in Europe saw a significant growth of 46%, reaching 16,051 cars, while the U.S. market also showed promising results with a 31% increase, totaling 10,644 cars.
However, the company experienced a decline in sales in China, with a decrease of 8% compared to the same period last year. Volvo Cars is majority-owned by China’s Geely.
These positive sales figures demonstrate the growing popularity of Volvo’s electric and hybrid models, as well as the brand’s strong presence in international markets.
“We are pleased to see such a strong sales performance in August, particularly amidst the challenging global economic conditions caused by the COVID-19 pandemic,” said a spokesperson from Volvo Cars.
The carmaker’s success can be attributed to its commitment to sustainability and innovation, as they continue to expand their portfolio of electric and hybrid vehicles. Volvo aims to achieve 50% of its global sales from fully electric cars by 2025 and has plans to launch several new electric models in the coming years.
Volvo Cars’ positive sales results come as a reassuring sign for the automotive industry, which has been heavily impacted by the ongoing pandemic. It indicates that consumer demand is gradually recovering, particularly in markets that have shown resilience and adaptability.
The company’s future prospects remain promising, as they continue to prioritize environmentally-friendly vehicles and invest in cutting-edge technologies. Volvo’s commitment to sustainability aligns with the global shift towards greener transportation options.
Reporting by Essi Lehto, editing by Terje Solsvik
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