Volvo Cars reported record first-half-year sales in 2019 of 340,826 cars, up 7.3 per cent compared with the same period last year. The company sold 317,639 cars in the first six months of 2018.
China, the US and Europe all reported a steady growth for the six-month period, with China recording its highest ever first-half and June sales volumes. During the period, Volvo grew consistently faster than its premium competitors, thereby gaining market share across these regions.
The first-half performance came on the back of continued strong demand for Volvo’s award-winning SUV range, led by the XC60 and followed by the XC40 and the XC90. The company’s latest models, the V60 estate and the US-built S60 saloon, contributed to increased volumes as well. Volvo has also started the first deliveries of its mild-hybrid offerings to customers.
In June, Volvo Cars sold 62,775 cars, down 2 per cent compared to the same period last year. The decline came from Europe, where sales for the month fell 9 per cent to 30,234 cars, as Volvo’s largest market in the region, Sweden, reported a 41.7 per cent sales decline to 5,762 cars. Sweden sales in the month were lower because of higher than usual delivery of cars in the same month last year owing to the implementation of a new emission tax, or the Bonus Malus, from the subsequent month.
For the first six months of the year, European sales remained steady, with a growth of 6 per cent, led by the XC40 and the XC60 SUVs and the new V60 estate. Total sales in the January-to-June period reached 174,398 cars, with the UK and Germany recording growth of 29.6 per cent and 32 per cent respectively.
The company reported its highest ever first-half-year sales in China of 67,741 cars, up 10.2 per cent compared with the same period last year. Strong demand for the locally produced XC60 and the S90 models led the volume growth in the six-month period. In June, too, Volvo reported its highest sales ever for China in a single month with a total 13,238 cars sold, up 13.3 per cent.
Volvo’s US sales reached 50,120 cars in the first half of the year, up 5.2 per cent compared with the same period last year. The company’s SUVs, led by the XC90, XC60 and the XC40, remained popular in the region, contributing to the volume growth for the period. In June, US sales reached 9,934 cars, up 0.7 per cent.