Volvo Cars’ global sales down over 25 percent in May

Volvo Cars sold 44,830 cars in May, down 25.5 percent on a year on year basis but compared to April, the sales saw 41 percent uptick as showroom traffic trends in Europe improved and sales in China continued to grow.

In the US, sales recovered quicker than expected as more states relaxed Covid-19 related restrictions. In the January-to-May period, Volvo Cars’ global sales reached 208,479 cars, down 25 per cent compared with the same period last year in 2019.

China sales in May reached 15,132 cars, up 21.8 percent compared with the same month last year. In the first five months of the year, sales declined by 7.1 percent compared with the same period last year.

US sales in May stood at 9,519 cars, down 2.5 per cent compared with the same month last year, as sales bounced back strongly as states started to open up. Between January and May, US sales declined by 18.2 percent, to 32,870 cars, compared with the same period last year.

Sales in Europe during May continued to be impacted by restricted movements as a result of the coronavirus pandemic, but showed signs of recovery compared with the previous month as more countries in the region started to open up.

Volvo Cars’ sales in Europe reached 14,965 cars in May, down 49.6 percent versus the same month last year. In the first five months of the year, sales declined by 34.3 per cent year-on-year.

The share of Volvo Cars’ Recharge line-up of chargeable Volvo models doubled in the first five months of 2020 compared with the same period last year. Recharge is the overarching brand name for all chargeable Volvo models with a fully electric or plug-in hybrid powertrain.