STOCKHOLM, April 7 (Xinhua) – Volvo Cars reported sales growth of over 40 percent during the first quarter of 2021, mainly due to good results in the Chinese market, where sales increased by over 117 percent.
According to a press release from the company on Wednesday, Volvo Cars’ global sales in January to March amounted to 185,698 cars, an increase of 40.8 percent compared to the same period last year, and the company said it was the “best first quarter in its history. ”
Statistics show that sales in China reached 45,242 cars, which is an increase of 117.7 percent during the first three months of the year compared with the first quarter the year before. The company said that with continued strong demand for the locally produced S90, it “recovered and improved sales lost due to COVID-19 restrictions.”
Elsewhere in the US and Europe, the company said it was able to improve sales compared to the first quarter of last year, while managing the ongoing effects of the pandemic.
During January-March, US sales amounted to 27,239 cars, an increase of 39.8 percent compared to the same period last year, which was affected by the pandemic as many states placed home orders.
The company’s European sales increased to 87,457 cars, an increase of 24 percent compared to the same period last year. The increase was mainly driven by markets that managed to cope with pandemic-related shutdowns and a strong increase in sales in Sweden and the United Kingdom.
During the first quarter of 2021, Volvo Cars said that they more than tripled the number of subscriptions sold online via the Care by Volvo offer compared with the same period last year. It also saw quarter-on-quarter growth of 22 percent.
Volvo Cars, which was acquired by the Chinese car manufacturer Geely in 2010, employed approximately 40,000 full-time employees globally by 2020. Volvo Car is headquartered in the Swedish city of Gothenburg and has main car production facilities in Gothenburg, Ghent (Belgium), South Carolina (USA), Chengdu and Daqing (China), while the engines are manufactured in Skovde (Sweden) and Zhangjiakou (China) and body components in Olofstrom (Sweden).