Volvo has just ended its most successful January in history as Europe, the US and China have all reported increasing sales despite the effects both the pandemic and semiconductor shortages have had on the automotive industry.
Volvo
In its latest financial briefing, the company report global sales are up 30.2% to 59,588 cars, boosted by strong year-on-year performance in China where the automaker more than recovered the losses from earlier Covid-19 shutdowns.
Read more: Volvo notes 6% sales rise for December
71% of its sales volume were represented by strong demand for its SUVs while its line of rechargeable cars continued to grow.
Sales for Recharge lineup doubled in January, accounting for 23% of all global sales.
Sales of electric vehicles have increased across the entire automotive sector, and may government and private companies are beginning their energy transition as part of their post-pandemic recovery schemes.
In China, sales grew by 91% to 19,160 cars for January with the nation still clocking in as the automaker's largest market.
The company claim sales in China were boosted by both strong demand and a ramp-up in production of its XC40 compact SUV.
Read more: Volvo CEO suggests petrol vehicle ban
US sales reached 8,151 cars in January - an increase of 32.4% from the same period last year - and the XC40 once again drove strong growth.
Sales in Europe for the month increased by 9% to 24,857 cars sold with Sweden, Germany and the Netherlands representing its key markets. Recharge cars accounted for 41% of the total European market, showing trends towards greener engines in line with EU policies.
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