Volvo Cars’ sales up 43% in May, 11th straight month of growth

Volvo Cars has recorded its 11th consecutive month of sales growth as the company’s global sales increased by 43 percent in May 2021, compared with the same month last year.

In May, Volvo Cars sold a total of 64,111 cars, up from 44,830 cars a year ago. The growth was mainly driven by a strong demand in the US and, in Europe, a recovery from a sales drop in May 2020 related to the Covid-19 pandemic. In China, where sales returned to growth around this time last year, the company reported a steady increase of 11.7 percent. 

Cumulative sales in the January-May 2021 period were 312,533 cars, up 49.9 percent year on year.

Sales of the Recharge line-up of chargeable models, with a fully electric or plug-in hybrid powertrain, remained strong in Europe during May, and represented 40 percent of the company’s overall sales in the region. Following a strong sales growth in the US, Recharge vehicles accounted for 20.8 percent of its total sales. Globally, Recharge cars accounted for 23.7 percent of the total sales volume during May.

In the US, sales increased by 38.9 percent YoY in May, mainly driven by a strong demand for the XC90 and XC60. Total sales reached 13,221 cars, an increase from 9,519 units sold in May 2020.

European sales grew to 24,761 cars in May, up 65.1 percent YoY, driven mainly by markets that have started to recover after last year’s pandemic-related shutdowns.

China, Volvo Cars’ biggest market, reported its 14th consecutive month of sales growth in May, with total sales reaching 16,895 cars. The increase was led by a continued high demand for the locally assembled XC60 and S90 models.

In May, the XC40 was the top-selling model with sales of 20,350 cars (10,891 cars in May 2020), followed by the XC60, with total sales of 19,835 cars (13,226), and the XC90 with 9,961 cars (6,572).