Volvo Cars : 4.5% sales increased in September; know more

After 14 straight months of decline, Volvo Cars announces 49,356 global auto sales in September, a 4.5% increase over the same month last year. Sales dropped to 428,987 for the first nine months of the year, a 19.2% fall
The business sold 15,436 plug-in electric vehicles (Volvo Recharge) last month, accounting for 31.3% of the overall volume (up 21% year over year).
What’s more, sales of all-electric vehicles surpassed previous monthly records with 6,072 units (up 271%), capturing a record 12.3% share. Plug-in hybrid sales decreased somewhat (for the ninth month in a row).

Volvo Recharge result:

• BEVs: 6,072 (up 271%) and 12.3% share
• PHEVs: 9,364 (down 15%) and 19.0% share
• Total: 15,436 (up 21%) and 31.3% share

Volvo Recharge sales were 34,614 in the third quarter (a 10% year-over-year decline).
Volvo has sold more than 128,000 plug-in electric vehicles so far this year, or over one-third of the total.

Volvo Recharge sales YTD:

• BEVs: 32,369 (up 110%) and 7.5% share
• PHEVs: 96,206 (down 18%) and 22.4% share
• Total: 128,575 (down 3%) and 30.0% share

We are cautiously optimistic about the future in light of the most recent results and a notable increase in sales of all-electric vehicles, however it could take some time until production issues are fully resolved.
Geographically, as usual, Europe saw the majority of sales of Volvo plug-in vehicles (11,201 in September and 81,314 year-to-date).
Sales in the US fell to 1,169 in September, a 31% year-over-year decline (154 BEVs and 1,015 PHEVs).
The Volvo C40 Recharge and the Volvo XC40 Recharge are the company’s two electric-only versions. The business sold 2,215 C40s and 3,857 electric XC40s in September, a 136% increase (new). Both figures set new records.

Volvo will soon release the next-generation BEVs, which are anticipated to increase sales. The Volvo EX90, an electric replacement for the outgoing Volvo XC90, is first in line.