Volvo Cars says EVs have doubled market share

Volvo Cars says the market share for its Recharge line-up of plug-in hybrid and fully electric models has doubled in the last six months, in comparison to the previous corresponding period in 2019.

It is reporting sales growth for June 2020 in both the United States and China despite a 2.1% drop overall to 61,483 units globally.

SUVs accounted for 71.2% of Volvo Cars total sales in June 2020, up from 60% in same month last year.

Volvo Cars says US sales in June stood at 10,385 cars, up 4.5% compared with the same month last year as sales bounced back strongly as states started to open up.

In China, sales continued to grow year-on-year during the month and reached 15,105 cars, up 14.1% compared with June last year.

Online initiatives such as the launch of Volvo Cars’ Stay Home Store also contributed to the rebound.

In the first six months, Volvo Cars sold 269,962 cars globally, down 20.8% compared with the same period last year. US sales declined by 13.7% to 43,255 cars, compared with the same period last year and Chinese sales declined by 3%.

Sales in Europe during the month of June continued to show signs of recovery compared with the previous month as more countries in the region started to open up.

Volvo Cars’ sales in Europe reached 28,277 cars in June, down 6.5% versus the same month last year. In the first six months of the year, sales declined by 29.5% year-on-year.

In June 2020, the XC60 mid-size SUV was the top selling model for the company, followed by the XC40 compact SUV and the XC90 large SUV.