Halfway through 2021, China’s auto market has shown a brand new pattern and trend in the first half of the year. Among them, the luxury car market, which has been growing at a relatively high speed, has further “heated up” in competition. On the one hand, BMW, Mercedes-Benz and Audi, the first echelon of luxury car brands, still maintain double-digit growth and continue to seize market share; on the other hand, some high-end car manufacturers are rapidly emerging, so for most traditional luxury brands, the market The pressure increased sharply.
In this context, Volvo’s market performance in the first half of this year exceeded many people’s expectations. In the past June, Volvo’s domestic sales reached 16,645 vehicles, with a year-on-year increase of 10.3%, achieving double-digit growth for the 15th month. In the first half of 2021, Volvo’s cumulative sales in mainland China was 95,079, an increase of 44.9% year-on-year, and the growth rate overtook Mercedes-Benz and BMW, setting a record high.
It is worth mentioning that Volvo’s market share in June reached 7% in a single month, an increase of 1.1% year-on-year, which also hit a record high this year. In the first half of the year, the market share reached 6.1%, a year-on-year increase of 0.1%, outperforming the broader market across the board. At the same time, the sales ratio of Volvo’s 300,000-400,000 models continues to rise, the terminal prices of its models are stable, and profits continue to increase. There are already a number of models in urgent inventory.
Volvo is receiving more and more consumers’ attention and favor. Volvo’s brand attention growth ranks first among traditional luxury brands on various platforms, and the number of fans in the brand’s own position has increased significantly. The phenomenon-level performance reflects that Volvo has established a deep user base, and this is all derived from Volvo’s product and service upgrades, demonstrating true commitment and responsibility. Now Volvo has steadily walked on the road of luxury.
Promoting sustainable development
Behind the steady increase in sales and market share, there are several sets of data that deserve more attention. First of all, the sales of all Volvo models have performed well, reflecting the improvement of the overall product strength. In the first half of the year, the XC90 and S90 sold 9,807 and 21,279 units respectively; the XC60 sold 35,195 units, an increase of 42% year-on-year; the S60 model grew significantly, with a total of 14,919 units sold, an increase of 183% year-on-year; the XC40 sold 11,657 units, It has become a new main model with a significant increase in sales.
Secondly, in terms of new energy and intelligence, Volvo has shown its strength, which means that it will occupy a leading position in future competition. Global sales data in the first half of the year showed that the global sales of Volvo RECHARGE series accounted for 24.6% of the overall sales, a surge of 150% year-on-year, leading the growth of the luxury car market; in the first quarter of this year, Volvo XC40 PHEV and Volvo XC60 PHEV sales once aspired to the same level. Market segment No.1.
At present, Volvo Cars has formed a 48V hybrid, plug-in hybrid and pure electric product matrix, taking the lead in realizing the electrification transformation. At the same time, Volvo’s products, including XC40, new 60 series and 90 series models, have achieved intelligent product upgrades.
Volvo not only pays attention to sales growth, but also pays more attention to the sustainability of development, and truly implements the overall development strategy of the company in the future. Yuan Xiaolin, Senior Vice President of Volvo Car Group, President and CEO of Volvo Cars Asia Pacific, said: “In the past, we were committed to protecting the lives of all traffic participants and drivers. Now, Volvo will protect the earth with the same attitude. And the environment on which mankind depends. We will not only demand ourselves with the highest standards, but will also continue to work with all partners in the industry to jointly promote the low-carbon transformation of the entire value chain and implement the green and sustainable development strategy.”
Volvo Car’s sustainable development strategy is divided into three key areas-climate action, circular economy, and business ethics and responsibility. Volvo Cars’ goal is to become a global climate zero-load benchmark company by 2040, a circular economy company, and a recognized leader in business ethics.
Therefore, around sustainable development, Volvo is truly implemented in every link of the upstream and downstream industrial chain. At the product level, Volvo Cars is the first traditional car manufacturer to propose a comprehensive electrification strategy and take the lead in bidding farewell to a single internal combustion engine model. Its goal is to make 50% of the company’s global annual sales by 2025 pure electric vehicles and become pure electric vehicles by 2030. Luxury car companies.
At the same time, in terms of production and supply chain, Volvo has also started the pace of carbon neutrality in China. The Chengdu plant has used 100% renewable electric energy since 2020, becoming the first automobile manufacturing base in China to achieve carbon neutrality of electric energy; starting from 2021, the Daqing plant will realize the application of 100% renewable electric energy. Volvo Cars has worked closely with suppliers to reduce emissions throughout the supply chain.
Attentive service can retain consumers
With the rise of a number of new car-making forces, it has brought many new enlightenments to the automotive industry. Not only cars are changing, but car-related services are also changing. In the future, automobiles have transformed from simply selling products to “product + service”. Car companies need to impress consumers through products and retain consumers through services. “Top-notch” in service is one of the core factors for Volvo’s high retention of users.
In July last year, Volvo Cars released a new brand after-sales service concept: “Make it safer and more comprehensive”, which includes life-long warranty of parts, fast maintenance by appointment, free pick-up and delivery, long-term business, exclusive scooter, all-weather Guardian, a total of six service commitments. Many of these services have become the first in the industry, which not only reflects Volvo’s sincerity in service and confidence in its own product quality, but also brings the brand’s rapid growth in the country.
Fang Xizhi, vice president of after-sales service of Volvo Cars Greater China Sales Company, said that Volvo’s original intention of launching the six major service commitments is to not waste every second of users, not waste every penny of users, and act as a mobile travel agent for users. Security guards. Thanks to multiple after-sales service measures, in June 2020, in a survey conducted by an authoritative organization, the Volvo XC60 and S90 two best-selling car series almost reached the lowest level of the same level in the same level in the market segment.
Volvo not only faces the future, but also keeps pace with the times. In the future, Volvo will continue to implement the six major service commitments and re-launch a personalized service policy for electrification and intelligence. For example, in response to service concerns for electric vehicle users, Volvo has introduced a full-scene charging layout through intelligent means. Build external conditions for Volvo users to “charge everywhere”.
In addition, Volvo is also actively exploring cooperation with high-quality service providers to provide users with lifetime free charging rights and one-key power-on services. In the future, Volvo’s exclusive brand charging stations will also be deployed in key cities. It is believed that in the near future, Volvo users will be able to truly “charge everywhere.”
”Whether it is the traditional era or the intelligent era now and in the future, what Volvo has changed is the improvement of service experience, and the “people-oriented” brand concept has not changed. This is why Volvo makes users “a second heartbeat”. This is also the key to Volvo’s victory in the future,” Fang Xizhi said.
Post time: Aug-16-2021