Volvo had the best half of its history in 2020
An excellent month of January, registrations up almost 50% in France in 2020 and the best half-year in history last year, Volvo has come through the crisis so far with its head held high...
28/11/2022
An excellent month of January, registrations up nearly 50% in France in 2020 and the best half-year in history last year, Volvo has come through the crisis with its head held high so far.
Not all manufacturers can say that they were good in 2020. Some were in bright red, and others, despite negative results, still praised a good performance which allowed limit breakage. Volvo was no exception to the rule that everyone lost sales in 2020, but the decline was relatively mild: 6.2%, to 661,700 vehicles. Only Tesla can boast of having progressed to the top of the range by approaching Volvo, with 500,000 sales.
The paradox for Volvo, however, is that 2020 has also been synonymous with good news: "The company reported sales of SEK 151 billion (€14.9 billion) and operating profit 9.5 billion SEK (937 million euros) for the last six months of 2020. Profits increased by 8.2% during this period, and turnover by 4.9%. profit margin, it stood at no less than 6.3%,” Volvo said in its press release.
If sales for the year 2020 were down, it was mainly due to the first half. The second is the best in Volvo's history, with an increase of 7.4% compared to the S2 of 2019.
Unsurprisingly, Volvo is riding on the success of its plug-in hybrids: in Europe, they represent 30% of registrations of the brand, which, in any case, is now clearly doing everything to depreciate the image of all thermal announcements.