Volvo Car Australia is on track to record its strongest sales years on record, despite the industry-wide impact of the global pandemic on stock supply.
National sales data released by VFACTs for October show Volvo has already sold nearly 8000 luxury cars in 2021, easily eclipsing the nearly 6000 car sales it achieved by October 2020 and has surpassed the 2020 full year volume of 7700 cars.
In October Volvo's XC40 was ranked No.3 in the luxury compact SUV segment, and its XC60 is ranked fourth in the luxury medium SUV segment. Overall, Volvo's year to date sales are up 32.3% compared to last year, which is by far the highest among its peers in the luxury segment.
Volvo is also achieving strong demand for its newly launched XC40 Recharge Pure Electric, the first all-electric SUV the company introduced in September to the Australian market.
"Our entire 2021 allocation of XC40 Recharge Pure Electric sold out on pre-order, and the orders for the Pure Electric are fast approaching that for our internal combustion engine cars," said Volvo Car Australia Managing Director, Stephen Connor.
"There is no doubt Australians are embracing electric cars in increasing numbers. In September our XC40 Recharge Pure Electric made up 21% of our overall sales. Our forward order book for Recharge heading into next year is very strong.
"As global supply chains recover during 2022, we are confident of our continued growth with a further high double-digit growth driven by our all-electric strategy.
"XC40 Recharge Pure Electric is the first of five all-electric models Volvo will launch over the next five years as globally we strive to make all-electric cars 50% of our sales by 2025 although my personal ambition for Australia is 100% by 2025.
"This is in line with our electrification strategy of introducing only all-electric models that complement our soon to be phased out line-up of mild-hybrid or plug-in hybrid cars as Volvo takes the lead in embracing a cleaner mobility.
"It underlines our commitment to reduce the environmental impact of our products, and to improve air quality in our cities. Most of all, it shows that we listen to our customers and their needs.
"Volvo's consistent double-digit growth in 2021 reinforces our standing as one of the fastest growing luxury car brands in Australia."
Volvo Car Group in 2020
For the 2020 financial year, Volvo Car Group recorded an operating profit of 8.5 BSEK (14.3 BSEK in 2019). Revenue over the period amounted to 262.8 BSEK (274.1 BSEK). For the full year of 2020, global sales reached 661,713 cars (705,452), a decline of 6.2 per cent compared to 2019.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales of 661,713 cars in 2020 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.
As of December 2020, Volvo Cars employed approximately 40,000 (41,500) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for APAC is located in Shanghai. The company's main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).
Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected into a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to establish five million direct consumer relationships. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.