While the prevailing pandemic causes countless businesses to run at a loss, lay off employees, and even consider shutting down, Chinese-owned automaker Volvo just recorded its 10th consecutive month of sales growth, with global sales figures up by 97 percent since April last year.
The boost in sales is despite the prevailing semiconductor shortage that is afflicting auto manufacturers across the globe. The sales growth figures are also being attributed to a spike in demand for vehicles as travel restrictions ease up over time.
Volvo was able to capitalize on this demand, selling a total of 62,724 cars in April. That’s compared to the 31,760 sold during this time last year. One of the key factors behind this impressive level of growth was high demand in European and U.S markets, which are only just recovering from a sales plunge owing to the pandemic last year.
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The U.S market specifically saw sales figures improve by 185.5 percent since April 2020, with Volvo selling a total of 11,036 cars, the best-selling models of which being the XC90 and XC60. The European market wasn’t too far behind, with sales increasing by 178 percent compared to this time last year, selling a total of 25,816 cars, mostly across the UK, Sweden, and Germany.
Finally, China, which is Volvo’s largest market, saw a sales growth of just over 11 percent, with a total of 16,435 cars being sold on total, owing mostly to the success to the highly popular XC60 and S90 models that are assembled on local soil.
Product-wise, the XC40 has been Volvo’s best-selling vehicle, with just under 20,000 (19,833 to be exact) cars sold globally, followed by the XC60 with a total of 17,925 sales, and the XC90, selling 9,371 models.
