Volvo Coronavirus Financial Relief and New Car Incentives
Just two months ago, Volvo Car USA had announced some stout sales figures for the month of February, marking the automaker’s best sales month in over 10 years. Volvo was in the midst of an 18.2% year-over-year increase, in comparison to the brand’s sales totals from February 2019. The auto brand’s appealing lineup of sport utility vehicles helped to achieve these admirable sales numbers, with the newly-updated XC90 up over 21.7% in comparison to February 2019, and the popular XC40 up an astounding 64% from the previous year.
When March came around, the Coronavirus pandemic wreaked havoc on the globe, inciting a health crisis that infected millions around the world and all but demolished the global economy as we know it. Here in the U.S., many states and localities have been forced to shelter-in-place and suspend business operations for many organizations.
The automotive industry has been hit particularly hard by the COVID-19 crisis, and Volvo has been unable to escape the fallout. Like many companies, the automaker’s sales tanked in March, dipping 42.7% for the month. While the brand was riding the high of its boosted sales figures to start 2020, the dramatic decline experienced in March was enough to shift a substantial sales increase at the beginning of the year into an 11.7% total decline for the quarter.
In response to the growing concerns surrounding COVID-19, Volvo is offering customers a number of Coronavirus car payment plans and new car incentives in an effort to help re-establish the momentum it had at the beginning of the year, and provide relief to customers who face economic uncertainty as a result of the Coronavirus.