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Volvo Cars reports 14.2% YoY growth in global sales in July

Volvo Cars posted strong sales in July, with volumes up 14.2% compared with the same period last year while recording a 16% downfall in sales for the Jan-July period.

The company sold 62,291 cars during the month, as Europe, US and China all reported a growth in sales compared with the same period last year. Sales in Europe returned to growth in July, continuing its positive trend as markets lifted restrictions put in place to curb the COVID -19 pandemic.

The double-digit volume growth during the month was driven by continued strong demand for Volvo Car’s award-winning SUV range, the company said, adding that the V60 estate and the US-built S60 sedan, also contributed to the strong performance.

In the first seven months, Volvo Cars sold 3,32,253 cars, down 16% compared with the same period last year.

Volvo Cars’ sales in Europe reached 28,700 cars in July, up 12.5% versus the same month last year. In the first seven months of the year, sales declined by 24.1% year-on-year.

US sales in July continued to grow year-on-year during the month and reached 9,697 cars, up 10.35 compared with the same month last year. In the first seven months, US sales declined by 10.1% to 52,952 cars, compared with the same period last year.