Volvo Cars, the premium car maker, has reported a third consecutive year of record sales in 2016, increasing 6.2 per cent compared to 2015 to 534,332 cars, underlining the breadth and depth of the company’s ongoing global transformation.
Volvo Cars continued its trajectory towards another record year in global sales in October, on the back of a strong performance in China. Year-to-date sales growth globally amounted to 8.4 per cent, resulting in total sales for the first ten months of the year of 424,772 cars (2015: 391,948).
Volvo Car Group, the premium car maker, has reported third quarter operating profit of SEK2,067m compared to SEK1,276m in the same period last year and a year-on-year increase in revenue to SEK41,1bn from SEK36.1bn previously. The operating margin rose from 3.5 per cent in the third quarter of 2015 to 5 per cent in 2016.
Volvo Cars continued its global sales momentum in September and reported its sixteenth consecutive month of global growth on the back of increases in all main regions. Sales for the first nine months are up 9.6 per cent year-on-year to 379,329 cars, while September sales rose by 6 per cent to 48,259 cars.
Volvo Cars, the premium car maker, has reported a strong first half of 2016 with operating income more than tripling to SEK5.59bn compared to SEK1.66bn reported in the same period last year. Revenues for the half rose from SEK75.215bn to SEK83.647bn.
Volvo Cars continued to gain momentum globally in July and posted a 9.3 per cent increase in retail sales for the month, selling 41,681 cars. Sales of the new Volvo XC90 were the main growth driver globally, while the XC60 continues to be the best-selling model overall. Global growth for the first seven months was 10.3 per cent.
Volvo Cars reported a solid double-digit sales increase for the first six months of the year, posting growth of 10.5 per cent to 256,563 cars compared to the same period in 2015. Sales of the new Volvo XC90 were the main growth driver globally.