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

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.”