The first Volvo car rolled off the Gothenburg production line in Sweden in 1927. Since then, Volvo Car Group has been a world-leader in safety technology and innovation. Today, Volvo is one of the most well-known and respected car brands in the world with sales in more than 100 countries.
Volvo Car Group (Volvo Cars) is owned by Zhejiang Geely Holding (Geely Holding) of China. Volvo Cars formed part of the Swedish Volvo Group until 1999, when the company was bought by Ford Motor Company. In 2010, Volvo Cars was acquired by Geely Holding.
Volvo Cars is listed on the Nasdaq Stockholm stock exchange, where it is traded under ticker symbol “VOLCAR B”.
The ‘Volvo’ name is owned by Volvo Trademark Holding AB, which is jointly owned by Volvo Cars and Volvo Group.
Volvo cars are marketed and sold by regional market companies and national sales companies through approximately 2,300 local dealers in over 100 countries. Most of the dealerships are independent companies. As of December 2020, Volvo Cars had around 40,000 full-time employees around the globe.
Volvo Cars sells premium-segment car models in a variety of segments: sedans (S60, S90), versatile estates (V60, V90) and SUVs (XC40, XC60, XC90, C40).
In 2021, Volvo Cars sold 698,693 cars. The largest market, China, represented some 25 per cent of the total sales volume in 2021, followed by the United States (17%), the United Kingdom (7%), Sweden (7%) and Germany (6%).
For 2021, Volvo Car Group recorded an operating profit of 20.3 BSEK (8.5 BSEK in 2020). Revenue over the period amounted to 282.0 BSEK (262.8 BSEK in 2020).
As of December 2021, Volvo Cars employed approximately 41,000 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden.
Volvo Cars' production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg, Camarillo (US), Sunnyvale (US) and Shanghai (China).
Production of body components has been located in Olofström (Sweden) since 1969. The company furthermore operates assembly plants in Kuala Lumpur (Malaysia) and Bengaluru (India).