China and US sales drive Volvo Cars’ 7.1% growth in October

Volvo Cars global sales continued to grow in October, with volumes up 7.1 per cent compared with the same period last year, driven by double digit sales increases in China and the US.

The company sold 65,290 cars during the month and the volume growth was driven by a continued strong demand for Volvo Cars’ SUV range.

In October, the XC40 compact SUV was the top selling model for Volvo Cars, followed by the XC60 mid-size SUV and the XC90 large SUV. During the month, SUVs accounted for 73.3% of the company’s total sales, up from 65.3% in the same month last year.

The share of Recharge models, with a fully electric or plug-in hybrid powertrain, more than doubled in the first ten months, compared with the same period last year, and now make up 16% of global sales. In Europe, the share was 27% in the same period.

In the first 10 months of 2020, Volvo Cars sold 516,418 cars, down 9.2% compared with the same period last year.

In China, sales reached 16,723 cars, up 19.1% compared with October last year. In the first 10 months of the year, sales grew by 5.2%, compared with the same period last year.

US sales in October continued to grow year-on-year during the month and reached 10,691 cars, up 21.4% compared with the same month last year. In the first 10 months, US sales declined by 2.3% to 84,295 cars, compared with the same period last year.

Volvo Cars’ sales in Europe reached 28,154 cars in October, down 4.6% versus the same month last year. In the first 10 months of the year, sales declined by 17.6% year-on-year.

During the first 10 months, the XC60 was the top selling model with total sales of 149,855 cars (2019: 163,827 cars), followed by the XC40 with 142,159 cars (2019: 108,295 cars) and the XC90 with 70,195 cars (2019: 80,010 cars).