Volvo Reports June Sales Hike Despite U.S. Dealers' Cyberattack

Automaker's global sales up despite operations shutdown among U.S. dealers and stiff domestic competition in China.

Paul Myles, European Editor

July 8, 2024

1 Min Read
Volvo XC60 grille
Volvo's global sales offset U.S. and China headwinds.

Volvo Cars saw a global sales hike in June of 8% despite a huge drop-off in sales in the U.S. as a cyberattack at software systems provider CDK hit dealer operations during the second half of the month.

The company's sales of electrified models, fully electric and plug-in hybrid models, grew 41% compared to the same period last year and accounted for 48% of all cars sold during June. Battery-electric vehicles made up 26% of all cars sold for the month.

Total sales for the period of January through June amounted to 388,073 cars globally, an increase of 14% compared to the same period 2023.

Sales in the U.S. decreased 28%, totaling just 9,304 cars following the cyberattack on CDK that hit thousands of dealerships across the industry during the month, forcing a halt to normal operations. However, sales of plug-in hybrid models went up 75% compared to the same period last year.

Meanwhile, the automaker suffered another slump in China, down 9% compared to June 2023 with just 14,049 cars sold probably due to increased domestic competition from rival Chinese brands.

In Europe, sales reached 36,474 cars in June, up 34% compared to the same period last year. Sales of Volvo Cars' electrified models increased 54% compared to the same period last year, and the share of electrified models accounted for 66% of all cars sold in Europe during June.

Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars, says: “As June comes to a close, the sales figures for the month are proof of the successful steps we have taken toward our long-term strategic direction and the continued demand for our cars. I am particularly pleased by the continued strong sales performance of the EX30.”

About the Author(s)

Paul Myles

European Editor, Informa Group

Paul Myles is an award-winning journalist based in Europe covering all aspects of the automotive industry. He has a wealth of experience in the field working at specialist, national and international levels.

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