Volvo global sales up 43% in May, up 49.9% year-to-date

Volvo is celebrating its 11th consecutive month of sales growth, with its global figures in May up 43 per cent compared with May last year.

Most manufacturers are reporting a spike in figures compared with last year, which makes sense considering the huge impact of the coronavirus pandemic. Volvo Cars sold 64,111 vehicles around the world in May, which was an increase from the 44,830 units the company shipped in May, 2020.

For the USA, Volvo says that its sales managed to increase by 38.9 per cent compared to May 2020’s figures, with demand for the XC90 and XC60 buoying its recovery. Total sales hit 13,221 units, a significant increase from the 9519 units it sold in May, 2020.

In total, though, Volvo’s XC40 remained the company’s top-seller in the month of May, with 20,350 units sold. The XC60 and XC90 rounded out the podium with 19,835 and 9961 units, respectively.

European sales jumped a staggering 65.1 per cent compared to last May, with the company saying that economic recoveries and the end of COVID-related shutdowns helped to facilitate this rebound.

In Volvo’s largest market, China, the company is reporting its 14th consecutive increase in sales, which amounted to 16,895 units in May. The Chinese market is said to be particularly fond of the XC60 and S90 models.

So far this year, global sales between January and May have amounted to 312,553 units, which marks a 49.9 per cent increase over the same period in 2020.

Volvo says the sales recovery is driven primarily by its plug-in hybrid and fully electric offerings, which accounted for 40 per cent of its overall sales in Europe. The US market is also gravitating toward Volvo’s hybrid and pure electric offerings, with electrified models accounting for 20.8 per cent.

In terms of its global sales, Volvo says that 23.7 per cent of its shipped vehicles were equipped with a hybrid or pure electric power unit.

In Australia, Volvo sold 945 vehicles in May which is up 136.3 per cent on last May. Total year-to-date sales have reached 4356 units, up 93 per cent on the same period in 2020.