Volvo Cars reports global sales growth of 7.9 per cent for the first seven months

Volvo Cars, the premium carmaker, remains firmly on course for another record year in retail sales after posting a 7.9 per cent increase for the first seven months of 2017 compared to the same period last year.

Total sales for the January to July period amounted to 321,919 cars, compared to 298,272 cars the year before. Volvo sold a record 534,332 cars in 2016 and is confident it will report a new sales record this year.

Global retail sales in July were 44,278 cars, up 6.2 per cent, as the first new XC60 cars started to reach customers. A total of 2,427 new XC60 cars were sold during the month, with orders exceeding 24,500 in the first half of the year.

Continued strong demand for the new 90 series cars remains an important factor in Volvo’s positive sales performance, while the first generation XC60 remains the best-selling model overall.

The Asia Pacific region reported sales growth of 24.5 per cent in the  first seven months, to 82,923 cars. Sales were boosted by a continued strong performance in China, Volvo’s largest individual sales market. Sales in the country rose 30.5 per cent to 61,181 cars in the same period, with the locally produced XC60, S60L and S90 most popular among customers.

Sales in the EMEA region increased by 6.2 per cent in the first seven months, to 187,546 cars, as demand for the new V90 and XC90 continued to be strong. Europe’s most popular premium mid-size SUV, the XC60, remained Volvo’s best-seller in the region.

The Americas region reported sales of 49,557 cars for the first seven months of 2017, down 7.0 per cent compared with last year. Delivery constraints affected first quarter sales, but Volvo Cars expects to report full-year growth after a stronger second half of the year.

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

Globally, the Volvo XC60 was the best-selling model in July with 13,713 cars sold (2016: 12,628), followed by the Volvo V40/V40 Cross Country with 7,209 cars sold (7,835). The XC90 was third with 6,547 sold cars (7,903). Sales figures by model can be found in the Sales Volumes section of the Global Newsroom.

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Volvo Car Group in 2016

For the 2016 financial year, Volvo Car Group recorded an operating profit of 11,014 MSEK (6,620 MSEK in 2015). Revenue over the period amounted to 180,672 MSEK (164,043 MSEK). For the full year 2016, global sales reached a record 534,332 cars, an increase of 6.2 per cent versus 2015. The record sales and operating profit cleared the way for Volvo Car Group to continue investing in its global transformation plan.

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 534,332 cars in 2016 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 2016, Volvo Cars had over 31,000 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), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).