Volvo Car Group records 12 consecutive months of sales growth

Volvo announces June and first half 2014 retail sales

• First-half sales of 229,013 cars, up 9.5 per cent versus H1 2013
• Global June sales of 43,132 cars, up 5.4 per cent versus June last year
• Strong growth continues in China, Sweden and Western Europe

Sales at Volvo Cars have grown every month for a full calendar year as demand remains strong in key markets.

June sales rose by 5.4 per cent year-on-year to 43,132 cars, as China, Sweden and several markets in Europe delivered strong growth. For the first six months of the year, Volvo Cars recorded retail sales of 229,013 cars, an increase of 9.5 per cent compared to the same period in 2013.

“The ability to grow consistently over a 12 month period underlines the transformation underway at Volvo Cars,” says Alain Visser, Senior Vice President Marketing, Sales and Customer Service at Volvo Cars. “With the first six months of the year now behind us, we can conclude that Volvo has had a strong start to 2014."

In China, retail sales rose 30.8 per cent year-on-year in June to 7,583 cars, another new sales record for a single month. The Volvo XC60 crossover continued to be the most popular model, followed by the S60L sedan and the V40 hatchback. So far this year, Volvo Cars has sold 38,555 cars in the Chinese market, representing an increase of 34.3 per cent compared to the first six months of 2013.

The strong sales momentum also continued in Volvo Cars’ home market of Sweden, where sales rose 22.1 per cent to 5,624 cars sold in June. The best-selling models in Sweden were the Volvo V70 and V60 estate models, closely followed by the Volvo XC60. Year-to-date, retail sales in Sweden are up 20.2 per cent to 30,511 cars.

Western European retail deliveries also rose, helped by solid performances in several key markets such as the UK, the Netherlands and Belgium. The UK especially showed strong demand, with June sales up 23.5 per cent year-on-year and first-half sales up 17.6 per cent. Other markets that performed well include Norway, Finland and Spain. Overall, retail deliveries in Western Europe rose by 4.5 percent to 15,762 cars in June, while the increase over the first six months of the years amounted to 8.7 per cent.

In the United States, Volvo Cars sold 5,984 cars in June, a decrease of 10.4 percent compared with the same month in 2013. Year-to-date, Volvo has sold 29,331 cars in the United States. Elsewhere around the world, demand for Volvo cars proved strong in countries like Australia, Brazil, Canada, Taiwan and Turkey in June.

Retail sales status (deliveries to end customers) for Volvo Car Group is as follows:

*excluding Sweden

The Volvo XC60 was the best-selling model in June with 12,098 sold cars (2013: 10,961), followed by the Volvo V40 and V40 Cross Country for which deliveries reached a total of 10,301 cars (8,520). The third best-selling model was the Volvo V60 with 5,524 cars (4,579). 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).