Volvo Car Group announces May retail sales:
Volvo Cars global sales up 13.4 per cent – new record in China
The positive momentum continued for Volvo Cars in May with retail sales of 40,449 cars, up 13.4 per cent compared to the same month last year, driven by a strong performance in several key markets.
China set a new sales record for a single month with 7,104 cars sold in May, retaining its position as Volvo Cars’ largest market. For the first five months of the year, Volvo Cars’ sales have grown 35.2 per cent in China, in line with the company’s target of selling at least 80,000 cars in the market this year. The Volvo XC60 crossover was the best-selling model followed by the Volvo S60L sedan.
Another highlight was Sweden where Volvo Cars recorded a 21.5 per cent market share and retail sales of 6,228 cars, up 33.5 per cent from last year. Demand for Volvo cars in Sweden has been boosted by a strong product offer and two successful marketing campaigns. The first one featured football star Zlatan Ibrahimovic, followed by a campaign starring music artist Robyn focusing on Volvo’s wide range of fuel efficient Drive-E engines.
Europe as a whole also demonstrated outstanding results in May with markets such as the UK, France and Germany growing significantly. All in all, sales in Western Europe were up by 15.1 per cent in May, while sales increased by 9.6 per cent in the first five months of the year. The Volvo V40 hatchback was the best seller in Europe, followed by the XC60 crossover. The United States became Volvo Cars’ third largest market in May with 5,014 retail sold cars, down 20.6 per cent from last year. For the full year, the company expects a turnaround in the US, built on new product launches and marketing investments initiated by a new leadership team.
“I am very pleased to see that customers appreciate the new products Volvo Cars’ has put to market and we have still not rolled out all variants of the new Drive-E engine range,”, says Alain Visser, Senior Vice President Marketing, Sales and Customer Service at Volvo Cars. “I also believe that the launch activities around the all-new Volvo XC90 will further boost the interest in our brand and products”.
Retail sales status (deliveries to end customers) for Volvo Car Group is as follows:
|
May |
January – May |
||||||
|
2013 |
2014 |
Change |
2013 |
2014 |
Change |
||
|
China |
4 415 |
7 104 |
60,9% |
22 905 |
30 972 |
35,2% |
|
|
USA |
6 318 |
5 014 |
-20,6% |
25 900 |
23 347 |
-9,9% |
|
|
Sweden |
4 664 |
6 228 |
33,5% |
20 778 |
24 887 |
19,8% |
|
|
Western Europe* |
12 751 |
14 671 |
15,1% |
65 552 |
71 868 |
9,6% |
|
|
Other markets |
7 512 |
7 432 |
-1,1% |
33 044 |
34 807 |
5,3% |
|
|
TOTAL |
35 660 |
40 449 |
13,4% |
168 179 |
185 881 |
10,5% |
|
*excluding Sweden
The Volvo XC60 was the best-selling model in May with 11,823 sold cars (2013: 9,706), followed by the Volvo V40 and V40 Cross Country for which deliveries reached a total of 9,025 cars (7,944). The third best-selling model was the Volvo V60 with 5,480 cars (3,811). Sales figures by model can be found in the Sales Volumes section of the Global Newsroom.
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Volvo Car Group in 2013
For the 2013 financial year, Volvo Car Group recorded an operating profit of 1,919 MSEK (66 MSEK in 2012). Revenue over the period amounted to 122,245 MSEK (124,547 MSEK), while net income amounted to 960 MSEK (-542 MSEK). Global retail sales for the year amounted to 427,840 (421,951) cars, an increase of 1.4 per cent compared to 2012. The operating profit was the result of cost control and strong sales and was further tangible proof of Volvo Car Group’s progress in implementing its transformation plan. For the full year 2014, the company expects to stay in black figures and predicts to record a global sales increase of a good 5 per cent.
About Volvo Car Group
Volvo has been in operation since 1927. Today, Volvo Cars is one of the most well-known and respected car brands in the world with sales of 427,000 in 2013 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding (Geely Holding) of China since 2010. It formed part of the Swedish Volvo Group until 1999, when the company was bought by Ford Motor Company of the US. In 2010, Volvo Cars was acquired by Geely Holding.
As of December 2013, Volvo Cars had over 23,000 employees worldwide. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for China is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium) and Chengdu (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China).
