Volvo Cars achieved its 11th consecutive month of sales growth, as the company’s global sales increased by 43% to a total of 64,111 cars in May compared with 44,830 cars in May 2020.
The growth was mainly driven by strong demand in the USA and in Europe, a recovery from the drop in sales in May last year related to the Covid-19 pandemic.
In China, where sales returned to growth around this time last year, the company reported a steady increase of 11.7%. The January-to-May period saw 312,533 cars sold, up 49.9% compared with the first five months of 2020.
Sales of the Volvo’s ‘Recharge’ range of chargeable models, with a fully electric or plug-in hybrid powertrain, remained strong in Europe during May and represented 40% of the company’s overall sales in the region.
Following strong sales growth in the USA, Recharge vehicles accounted for 20.8% of its total sales. Globally, Recharge cars accounted for 23.7% of the total sales volume during May.
In the USA, sales increased by 38.9% in May compared with May 2020, mainly driven by strong demand for the XC90 and XC60. Total sales reached 13,221 cars, an increase from 9,519 units sold in May 2020, when many states implemented stay-at-home orders due to the pandemic.
European sales grew to 24,761 cars in May, up 65.1% compared with May 2020. The increase was mainly driven by markets that have started to recover after last year’s pandemic-related shutdowns.
China, Volvo Cars’ biggest market, reported its 14th consecutive month of sales growth in May, with total sales reaching 16,895 cars. The increase was led by continued high demand for the locally assembled XC60 and S90 models.
Volvo Cars was founded in 1927, but has been under the ownership of Zhejiang Geely Holding since 2010. Volvo Cars’ head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden.
The company’s main car production plants are located in Gothenburg, Ghent (Belgium), South Carolina (the USA), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China), and body components in Olofström (Sweden).