Volvo reports strongest second-half sales in company history on pandemic recovery

Sales grew by 6% in December, marking continued month-on-month growth from June after an initial sales slump of 21% in the first half of the year 

Fast-growing demand for its Recharge line-up of chargeable cars is credited in aiding the Sweedish automobile company’s recovery

Volvo Cars reported the strongest second-half sales numbers in the company’s history on Thursday, as fast-growing demand for its electrified cars boosted the company’s recovery from the impact of Covid-19.

The automobile company's sales grew by 6% last month, marking continued month-on-month growth from June after an initial sales slump of 21% in the first half of the year linked to the pandemic.

While Volvo reported a 1.8% decline in sales in Europe for the month of December, sales in China grew 9.9% while sales in the United States jumped 15.2%.

Overall, sales rose by 7.4% to 391,751 cars in the second half of 2020 compared to the same period in 2019.

Chargeable cars

Fast-growing demand for its Recharge line-up of chargeable cars is credited in aiding the Swedish automobile company’s recovery.

In Europe, the share of Recharge models accounted for 29% of overall sales. 

In all markets, sales of Recharge models, with a fully electric or plug-in hybrid powertrain, more than doubled in 2020 compared to 2019.

Lex Kerssemakers, head of Global Commercial Operations, said the company gained market share in all of its main sales regions last year, adding that the company plans to continue to roll out new electrified Volvos and expand its online business in 2021.