Volvo reported record demand for own carsFebruary 6, 2020
The Swedish company set the sixth consecutive sales record for 2019. At the same time, demand for hybrid cars rose sharply. In total, 705,452 new Volvo cars were sold last year.
Volvo sold a record number of cars last year, with sales for the first time exceeding 700,000. Moreover, the demand for hybrid cars will allow the brand to meet new stringent environmental standards in 2020 in the EU. Demand for new cars in 2019 increased from 642,253 sold cars in 2018 to 705,253 units.
European sales grew 7.2% to 341,200 units, while sales in China grew 18.7% to 154,961. Total brand revenue amounted to $ 28.5 billion, which also shows a positive dynamics compared to 2018 in the amount of 8.5 %
Like other automobile companies, Volvo is actively working on the electrification of its model line, and soon all models will receive electrified versions. A total of 45,933 Volvo plug-in hybrids were sold, an increase of 22.9% compared to 2018. Plug-in hybrids accounted for 18% of Volvo model sales in Europe in December.
In addition, Volvo plans to release five all-electric models by 2025. The compact crossover XC40 will be the first of them.
The XC60 remains Volvo’s best-selling model, with sales of 204,981 units worldwide.
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