Automotive 2020 Volvo XC40 Recharge EV

Published on April 16th, 2020 | by Hammer

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Volvo 2020 First Quarter Sales Is Good

Two weeks ago on April the 2nd Volvo Cars release their global quarterly sales report and  it was surprisingly not that bad considering the lockdown in China and the economic slump. However it must be noted that this report included sales that came in early in 2020 when the threat of the COVID-19 virus was not yet a pandemic and Volvo Cars had the best selling XC60, sexy new S60 sedan and all new XC90 in its showrooms.

PRESS RELEASE: Volvo Cars sold 131,889 cars in the first quarter of 2020, down 18.2 per cent compared with the same period last year. The company’s global sales performance was affected by the continued impact of the Coronavirus pandemic.

2020 Volvo XC40 Recharge EV

In March, Volvo Cars global sales reached 46,395 cars, down 31.2 per cent compared with the same period last year, led by weakening demand in Europe and the US. China meanwhile is showing signs of recovery, as showroom traffic continues to improve.

During the January to March quarter, the XC60 was the top selling model for the company, followed by the XC40 and the XC90. SUVs accounted for 67.9 per cent of the company’s total sales in the period, up from 60.3 per cent in the first quarter last year.

2020 Volvo XC40 Recharge EV

Volvo Cars’ Recharge line-up of chargeable Volvo models maintained a strong sales momentum in the first quarter, comprising of 14.7 per cent of all cars sold in the period. The comparable share at the end of the same period last year stood at 7.4 per cent. Recharge is the overarching brand name for all chargeable Volvo models with a fully electric or plug-in hybrid powertrain.

  2020 Volvo XC40 Recharge EV

China sales during the quarter reached 20,780 cars, down 30.5 per cent as compared with the same period last year, primarily due to the lower sales performance in January and February. In March, showroom traffic in the region started to pick up pace. Earlier this month Volvo Cars also re-opened its four manufacturing plants in China after an extended closure period due to the spread of the Coronavirus.

  2020 Volvo XC40 Recharge EV

US sales in the January to March period stood at 19,485 cars, down 11.7 per cent, compared with the same period last year. A majority of States in the country have now implemented stay-at-home orders which have led to a significant drop in showroom traffic in March that affected the first quarter volumes.

Volvo Cars’ sales in Europe reached 70,510 cars in the first three months of the year, down 18.5 per cent as compared with the same period last year. The sales performance was significantly impacted in March due to restricted movement in several key markets including Germany, the UK, France, Italy and Belgium among others.

2020 Volvo XC40 Recharge EV

A detailed break-up of regional sales is given below:

March

January-March

2019

2020

Change

2019

2020

Change

Europe

37,325

24,258

-35%

86,520

70,510

-18.5%

China

11,413

9,560

-16.2%

29,886

20,780

-30.5%

US

9,569

5,487

-42.7%

22,058

19,485

-11.7%

Other

9,150

7,090

-22.5%

22,856

21,114

-7.6%

Total

67,457

46,395

-31.2%

161,320

131,889

-18.2%

During the first three months, the XC60 was the company’s top selling model with total sales of 36,930 cars (2019: 46,259 cars), followed by the XC40 with 34,268 cars (2019: 28,903 cars) and the XC90 with 18,327 cars (2019: 22,073 cars).

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