EV sales drive Volvo recovery

Volvo Cars reported the strongest second-half sales numbers in the company’s history in 2020, fuelled by fast-growing demand for its electrified cars.

The share of electric models more than doubled in 2020 compared with 2019, while in Europe EV sales accounted for 29% per cent of all its sales.

Lex Kerssemakers, head of global commercial operations, said: “We had a great second half of the year after a tough start, gaining market share in all our main sales regions. We aim to build on this positive trend in 2021 as we continue to roll out new electrified Volvos and expand our online business.”

While sales dropped by 21% in the first half of the year, the company reported solid month-on-month growth from June onwards. Sales rose by 7.4% to 391,751 cars in the second half of the year compared with the same period in 2019.

Globally, Volvo Cars sold 661,713 cars in 2020, a decline of 6.2% compared to 2019.

Meanwhile, the pandemic also accelerated the company’s move towards online sales, as it more than doubled its number of subscriptions sold online versus 2019.