Volvo Car USA posts sixth consecutive month of year-over-year growth to overcome COVID-19 related setbacks

• Volvo Car USA sales up 20.3 percent over November 2019 with 11,590 cars sold
• Year-to-date improvement of 2.6 percent brings the brand back to positive sales
• Volvo Car Canada up 13.1 percent year-over-year, reporting 1,004 cars sold in November 2020
• Latin America region achieves 29.5 percent growth year-over-year posting 1,772 cars sold

MAHWAH, NJ (December 1, 2020) Volvo Car USA achieved its sixth consecutive month of year-over-year growth in November, recovering all losses from COVID-19 shutdowns and setting a path toward a positive overall result for fiscal year 2020. The result reflects 11,590 cars sold, an improvement of 20.3 percent over the same month last year.

The brand’s line-up of premium sedans joined its SUVs in positive sales growth, all up year-over-year for the month of November. The XC60 SUV surpassed its record setting October 2020 result, improving by 5.2 percent, while the XC40 compact SUV and S60 sedan saw year-over-year growth of 67 percent and 6.1 percent, respectively.

With 95,885 cars sold in the U.S. year-to-date, Volvo car USA is on par with its 2019 result over the same period last year.

The Volvo Car Americas region also achieved a strong result for the month of November securing 20.8 percent growth year-over-year, now down only 2.6 percent year-to-date as compared to its 2019 result. Volvo Car Canada Ltd. reported sales of 1,004 units for the month of November, a year-over-year increase of 13.1 percent. Year-to-date Volvo Cars has sold a total of 8,213 vehicles in Canada. Latin America contributed 1,772 cars sold, an increase of 29.5 percent over November 2019.

“As we approach the end of the year, I am reenergized by ours team’s capacity to recover the sales losses incurred at the start of the COVID-19 pandemic in America,” said Anders Gustafsson, and Senior Vice President, Volvo Car Americas and President and CEO, Volvo Car USA. “Given the additional loss of three selling days over 2019, this success restates our strength in the segment and the hard work put in by our retail partners and employees throughout the Americas.”

About Volvo Car USA

Volvo Car USA LLC, (www.volvocars.com/us) is a subsidiary of Volvo Car Group of Gothenburg, Sweden. VCUSA provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the United States. For more information please refer to the VCUSA media website at: http://www.media.volvocars.com/us.

About Volvo Car Group

Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales of 705,452 cars in 2019 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.

In 2019, Volvo Cars employed on average approximately 41,500 (41,500) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).

Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected into a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to establish five million direct consumer relationships. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.

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