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October 4, 2021

Geely’s Volvo Cars sees 17.6% global sales growth YTD

Europe, China and the US all reported sales growth.

By Graeme Roberts

Geely’s Volvo Cars sold 530,649 cars in the first nine months of 2021, up 17.6% compared with the same period last year.

Europe, China and the US all reported sales growth in the January to September period, despite a challenging year where Covid-19 related supplier shutdowns have caused a global material shortage.

In September, global sales reached 47,223 cars, down 30.2% with the decline related to a shortage of components. This affected production, although it picked up again late in the month. Demand remained strong.

For the first nine months of 2021, the number of cars sold online increased by more than 360% compared with the same period in 2020. This growth was driven by increasing customer demand in combination with a broadened offer in more markets.

The Recharge line-up of chargeable models, with a fully electric or plug-in hybrid powertrain, continued to be popular. Their share globally reached 24.9% for the first nine months of the year, and 26.9% in September.

US sales in the January-September period totalled 95,365 cars, up 29.6%. In September, the number sold declined 9% to 9,350 due primarily to a shortage of available stock.

Europe sales reached 220,371 cars in the first nine months of the year, up 10%. September sales were heavily affected by the shortage of stock, affecting volume in Sweden, the United Kingdom, Belgium and Italy. This resulted in a 41.5% drop to 18,089.

China sales reached 132,610 cars in the first nine months of the year, up 17.1%. September sales fell 43.9% to 9,696.

The XC60 remained the best selling model in the January-to-September period, at 162,596 cars (2020: 131,091), followed by the XC40 at 156,920 (2020: 121,905) and the XC90 with 80,402 (2020: 61,327).

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