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Volvo Car USA And Canada Achieves 3.8% Sales Increase In November 2024 With Strong Electrified Model Performance
Volvo Car USA and Canada reported a 3.8% increase in car sales for November, with 13,569 units sold compared to the same month last year. Electrified models, including fully electric and plug-in hybrids, saw a significant rise of 55.3%, making up 41.2% of total sales. Year-to-date figures show a 20% increase in electrified model sales, accounting for 35.4% of the region's total sales.
In the United States alone, Volvo achieved its highest-ever November sales with 12,259 cars sold, marking a 5% increase from the previous year. Electrified models in the US experienced a substantial growth of 57.8%, representing 39.1% of total sales. The XC60 compact luxury SUV led as the best-selling model with 4,713 units sold, a remarkable 48.7% rise from last year.
The XC90 midsize luxury SUV followed closely with sales of 4,711 units, reflecting a growth of 28.8%. In contrast, Canadian sales totaled 1,310 vehicles in November, showing a decline of 6.8% compared to the previous year. Despite this drop, electrified models in Canada surged by 41.8%, comprising 60.3% of total sales and marking the best month ever for plug-in vehicles.
Mike Cottone, President of Volvo Car USA and Canada, expressed pride in their performance and highlighted the appeal of their electrified models among customers: "We are proud of our performance and how our electrified models continue to resonate with our customers." He assured that all models come equipped with Volvo's renowned safety and technology features.
Volvo Car USA LLC is based in Mahwah, New Jersey and operates as a subsidiary of Volvo Car Group from Gothenburg, Sweden. The company supports US retailers through various services including marketing and training since the 1950s. Their manufacturing facility in Ridgeville, South Carolina underscores their commitment to the US market.
Canadian Operations
Volvo Car Canada Ltd., also part of Volvo Car Group from Gothenburg, Sweden, provides similar support to its network of 37 retailers across Canada. Both subsidiaries aim to enhance their market presence through strategic operations and customer engagement.
Globally in 2023, Volvo Car Group achieved an unprecedented core operating profit of SEK 25.6 billion and revenue reached SEK 399.3 billion with global car sales hitting a record high at 708,716 units.
Global Presence and Sustainability Goals
Founded in 1927, Volvo Cars has grown into one of the most recognised automotive brands worldwide with operations spanning over 100 countries. It is publicly traded on Nasdaq Stockholm under "VOLCAR B". The company aims to transition entirely to electric vehicles while reducing its carbon footprint significantly by targeting net-zero emissions by 2040.
As of December 2023, Volvo Cars employed around 43,400 full-time staff globally with headquarters located in Gothenburg along with key functions such as product development and marketing.
Their production facilities are spread across Gothenburg; Ghent; South Carolina; Chengdu; Daqing; Taizhou; along with R&D centres situated in Gothenburg and Shanghai.
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