Volvo sales grow 10% in April on China demand

 

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Volvo has reported a 10% increase in global sales for the month of April, largely driven by a surge in demand in China. The Chinese market saw a year-on-year increase of 49%, with sales of almost 15,000 vehicles, making it the largest market for Volvo. This growth in sales is largely attributed to the popularity of Volvo's XC90 model, with over 5,000 units sold in China in April alone.

The company's CEO, Hakan Samuelsson, expressed his satisfaction with the company's performance, noting that "we are pleased to see strong demand for our cars, particularly in China, where we are seeing healthy growth across our entire range".

Volvo's strong sales performance in China is in line with the overall trend in the Chinese automotive market. Despite the impact of the COVID-19 pandemic, the Chinese automotive market has shown signs of resilience, with sales increasing for six consecutive months.

The Swedish carmaker has been making significant investments in China over the past few years and has seen its efforts pay off with strong sales growth in the country. The company recently opened a new automotive plant in Chengdu, which is expected to produce up to 150,000 vehicles per year.

Volvo's focus on electric and hybrid models has also contributed to its success in China, where the government has been promoting the use of electric vehicles to reduce emissions and combat air pollution.

Overall, Volvo's strong sales performance in China is a positive sign for the company, as it continues to expand its presence in the world's largest automotive market.