Jack R. Nerad | April 10, 2020
On March 3, 2020, Volvo Car USA announced robust sales in the month of February, the best for the month since 2007. With that 18.2% year-over-year gain compared to the sales total from February 2019, Volvo celebrated its 14th straight month of annual growth and 2020 year-to-date sales up 12.1%. The company’s lineup of SUVs led the charge with the updated XC90 up 21.7% versus February 2019 and the remarkably popular XC40 up 64% year-over-year.
Then in mid-March, the coronavirus reared its ugly head. In many states and localities, businesses were shut down and citizens were strongly encouraged to stay home. These measures had a devastating effect on overall vehicle sales and Volvo didn't avoid the pain. The brand's sales fell 42.7% for the month of March, a decline dramatic enough to turn what previously had been a strong sales increase into an 11.7% year-over-year decline for the quarter.
In the face of the economic and health crisis, Volvo Car USA is offering coronavirus financial relief to existing customers and new car incentives in a bid to gain new customers and regain the momentum it had earlier in the year. Here are the details.
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