Especially in these challenging times.
It's been a tough time for the auto industry. The global pandemic brought auto production to a standstill this year and the semiconductor chip shortage continues to cause supply issues. One manufacturer that is seemingly immune to the crisis is Volvo. Despite the challenges caused by the pandemic, Volvo achieved record sales in the second half of 2020, and things are only getting better in 2021. In the US, Volvo sold 10,686 cars in August, an increase of three percent over August 2020.
While this is only a slight improvement over last year, August was the 15th consecutive month that Volvo's US sales have increased year on year, according to a new report.
Impressively, Volvo's year-to-date sales are up by 35.8 percent in the US, an increase of 22,685 cars compared to the same period last year. Volvo's electrified Recharge models like the fully electric XC40 Recharge and the S60 Recharge hybrid are proving especially popular in California, accounting for 48.5 percent of sales last month. In the US, electrified Recharge models represented 18.5 percent of Volvo's total August sales.
We expect the upcoming launch of the C40 Recharge will also help boost Volvo's electrified sales. Unlike the XC40 Recharge, the C40 Recharge was built from the ground up as an electric vehicle, packing a dual-motor electric powertrain producing a combined 402 hp and 486 lb-ft of torque.
Deliveries for Volvo's first electric-only SUV will start later this year, with prices starting at $58,750. Although it lacks some of the XC40 Recharge's interior space, the C40 Recharge has a sexier design which increases its appeal.
Year on year, overall sales also increased by 6.3 percent in the Americas, with a 5.6 percent increase in Canada and 34.6 percent increase in Latin America. "Reflecting on our journey from June 2020 to today, it's encouraging to see yet another month of positive growth," said Anders Gustafsson, President, and CEO of Volvo Car USA. "This is especially noteworthy in the context of the ongoing challenges our industry is facing."