In 2020, Volvo Cars global sales were lower despite record deliveries during the second half of the year. Worldwide the XC60 was the top-selling Volvo model and China the largest market.
Globally, Volvo Cars sold 661,713 cars in 2020, a decline of 6.2 percent compared to 2019. Following a difficult start to the year, Volvo Cars reported the strongest second-half worldwide sales numbers in the company’s history in 2020, as fast-growing demand for its electrified cars boosted the recovery from the impact of the coronavirus. Globally, the XC60, XC40, and XC90 were the best-selling Volvo. In China and the USA, the most-important country markets, Volvo increased sales in 2020.
Volvo Cars Global Sales by Country or Region in 2020
Volvo Cars global sales per country or major region during the second half of 2020 and the full calendar year 2020 were as follows:
|Jul – Dec||Jan – Dec|
Top-Selling Volvo Models in 2020
The best-selling Volvo models worldwide in 2020 were the XC60 with total sales of 191,696 cars (2019: 204,965 cars), followed by the XC40 with 185,406 cars (2019: 139,847 cars) and the XC90 with 92,458 cars (2019: 100,729 cars).
The share of Recharge models, with a fully electric or plug-in hybrid powertrain, more than doubled in 2020 compared with 2019. In Europe, the share of Recharge cars of overall sales was 29 percent, making Volvo the leading brand in the region for chargeable cars. It was also a leading plug-in hybrid brand in the US.
Volvo Cars Global Sales Highlights in 2020
Volvo believed it outperformed its competitors and gained market share in all its main sales regions during the first 11 months of the year.
In China and the United States, its two largest individual markets, Volvo reported growing sales for the full year as it managed to more than recover a pandemic-related sales drop in the first half during the second half of the year.
While sales dropped by 21 percent in the first half of the year, the company resumed its growth trajectory of recent years in the second half of 2020, reporting solid month-on-month growth from June onwards. Sales rose by 7.4 percent to 391,751 cars in the second half of the year compared with the same period in 2019.
Sales rose by 7.5 percent in China in 2020 compared with 2019, to 166,617 cars. In the US, the Volvo sold 110,129 cars, a 1.8 percent increase compared with the year before. In both markets, strong demand for the company’s SUV line-up was responsible for the majority of sales volumes.
In Europe, Volvo Cars saw strong demand for its Recharge cars in many key markets. A sluggish overall market, held down by pandemic-related restrictions, meant that overall sales fell by 15.5 percent for the whole year.
Volvo Outlook for 2021
The pandemic also accelerated Volvo’s move towards online sales, which will continue to be a focus area in 2021. In 2020, Volvo Cars more than doubled its number of subscriptions sold online versus 2019. Conquest rates via this channel continued to be high, supporting the increase in market share.
Volvo Cars is committed to becoming a premium electric car company, and in the coming years will launch several fully electric cars. By 2025, it aims for its global sales to consist of 50 per cent fully electric cars, with the rest hybrids. It is currently the only car maker to offer a plug-in hybrid variant of every model in its portfolio.
Global Worldwide Car Sales by Brand in 2020 (Full Year)
Global worldwide car sales by brand in 2020 (Full Year):
- BMW (including Mini & Rolls Royce)
- Daihatsu (see Toyota)
- Lexus (see Toyota)
- Mercedes-Benz (including Smart)
- PSA Group (Peugeot, Citroen, DS, Opel / Vauxhall)
- Renault Group (including Dacia)
- Toyota (including Lexus, Daihatsu, Hino)
- Volkswagen (VW Car Brand)
- Volkswagen Commercial Vehicles (VWCV)
- Volkswagen Group
“Sales” as reported by brands generally refer to deliveries and not necessarily sales to the customer and final registration. Terms and definitions may vary.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world, with sales of 705,452 cars in 2019 in about 100 countries. Volvo Cars has been under the ownership of Zhejiang Geely Holding since 2010.
In 2019, Volvo Cars employed on average approximately 41,500 (41,500) full-time employees. Volvo Cars’ head office, product development, marketing, and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars’ head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China), and body components in Olofström (Sweden).