STOCKHOLM, Jan. 7 (Xinhua) -- Driven mainly by the Chinese market, Volvo Cars on Thursday reported the strongest second-half-year sales in the company's history in 2020, as fast-growing demand for its electrified cars boosted the company's recovery from the COVID-19 pandemic's impact.
According to a press release from the company on Thursday, in China and the United States, its two largest individual markets, the company reported growing sales for the full year as it managed to recover a pandemic-related sales drop in the first half during the second half of the year.
"We had a great second half of the year after a tough start, gaining market share in all our main sales regions," Lex Kerssemakers, head of Global Commercial Operations said in the release. "We aim to build on this positive trend in 2021 as we continue to roll out new electrified Volvos and expand our online business."
While sales dropped by 21 percent in the first half of 2020, 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 compared to the same period in 2019.
Globally, Volvo Cars sold 661,713 cars in 2020, a decline of 6.2 percent compared to 2019. Although final numbers for the full year are yet to be confirmed, the company outperformed its competitors and gained a market share in all its main sales regions during the first eleven months of the year.
In China, sales rose by 7.5 percent in 2020, to 166,617 cars, compared to 2019. In the United States, the company sold 110,129 cars, a 1.8 percent increase compared to the year before. In both markets, strong demand for the company's award-winning 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.
The pandemic also accelerated the company'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.
The company will launch several fully electric cars. By 2025, it aims for its global sales to consist of 50 percent fully electric cars, with the rest hybrids. It is currently the only car maker to offer a plug-in hybrid variant on every model in its portfolio.
Volvo Cars, acquired by Chinese automaker Geely in 2010, employed an average of 36,278 people globally during the first six months of 2020. Enditem
