Volvo Cars reported global sales of 45,752 cars in January, down 9.7 percent compared with the same period last year. Volumes last month were impacted due to a new, updated tax system in Sweden and a lower sales performance in China. However, despite the January result, Volvo Cars continues to expect a growth in global volumes for the full year of 2020.
During the month, Volvo Cars’ SUVs maintained a solid sales momentum with total SUV volumes reaching 31,057 cars, accounting for 67.9 percent of the company’s total sales. The XC60 continued to be the top-selling model for the company, followed by the XC40 and the XC90.
Volvo Cars’ Recharge line-up of chargeable Volvo models reported a 63.3 percent jump in January sales compared with the same period last year, and comprised 13.5 percent of all cars sold in the month. The comparable share at the end of January 2019 stood at 7.5 percent.
The company aims for plug-in hybrid cars to reach a 20 percent share of sales in 2020. Recharge is the overarching brandname for all chargeable Volvo models with a fully electric or plug-in hybrid powertrain.
US sales in January reached 6,157 cars, up 5.2 percent, compared with the same period last year. XC90 was the top selling model in the United States, followed by the XC60 and the XC40.
China sales declined 16.2 percent in January, compared with the same period last year to 10,015 cars. The locally manufactured XC60 was the top selling model in the region, followed by the S90 sedan.
European sales for the month declined 12.9 percent, compared to the same period last year. Volvo Cars’ largest market in the region, Sweden, reported a 31.9 percent drop in volumes because of an updated tax system that took effect from January 2020.
In January 2020, the XC60 was the top-selling model with 13,353 cars (2018: 15,593 units), followed by the XC40 with 10,802 cars (2018: 8,113 units) and the XC90 with sales of 6,902 cars (2018: 6,520 units).
Also read: Surging demand for SUVs sees Volvo Cars sell record 700,000 units in 2019, up 9.8%