Volvo reports 12.6% global sales increase in first 10 months of 2021

MANILA: Volvo Cars moved a total of 581,464 vehicles in the first 10 months of the year, reflecting a 12.6% increase versus the same period last year.

However, In a release, the company said that in October, it sold a total of 50,815 units worldwide — which is 22.2% lower versus the same period last year. The sales drop was due to a component shortage which hampered production, but the demand for Volvo cars remained high.

Sales of electric vehicles have also increased, according to Volvo Cars. For the first 10 months of the year, vehicles with a fully electric or plug-in hybrid powertrain, known as Recharge models, accounted for 25.5% of global car sales. In October, Recharge models accounted for 31.5% of overall sales, as the number of electric vehicles keeps growing globally.

For the first 10 months of 2021, Volvo was able to sell 18,261 fully electric vehicles, which is 3.1% of total sales. In October alone, 2,841 fully electric vehicles were sold, reflecting a 5.6% increase. The sales growth was due to an anticipated increase in production. Volvo Cars also began the production of the fully electric C40 Recharge in Belgium last October.

In the United States, Volvo Cars sold 104,066 units in the first 10 months of the year, increasing 23.5% over the same period last year. In October, 8,701 units were sold, with Recharge models accounting for 24.1% of overall sales.

In China, sales from January to October 2021 totaled 143,616 units, up 10.5% versus the same period last year. The number of cars sold in October was 11,006, down 34.2% from October 2020, owing to a supply shortfall that hampered production.

In Europe, Volvo sold 242,495 in the first 10 months of the year, up 6.1% versus the same period last year. The October sales performance was constrained by a lack of available cars, which resulted in a decline of 22,124 vehicles. Demand, on the other hand, was strong, resulting in an increase in sales in markets like Sweden and the United Kingdom.

The XC60 remained to be Volvo’s top-selling model worldwide from January to October 2021, with total sales of 177,995 units. It was followed by the XC40 with 170,907 units, and the XC90 with 89,041 units.

Photo from Volvo Cars

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