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Volvo Cars reports double-digit sales growth of 15.5 per cent in August 2017

Volvo Cars reports double-digit sales growth of 15.5 per cent in August 2017

 

Volvo Cars, the premium car maker, is heading for another record year in retail sales after posting a double digit global sales growth of 15.5 per cent in August compared to the same period last year.

 

Total sales for the January to August period amounted to 359,798 cars, up 8.7 per cent compared to the year before. Volvo sold a record 534,332 cars in 2016 and is confident it will report a new, fourth consecutive sales record this year.

 

Global retail sales in August reached 37,879 cars, up from 32,800 cars the same month last year. The strong increase was mainly driven by demand for the company’s new 90 series cars, while the first generation XC60 remains the best-selling model.

 

In China, Volvo’s largest market, sales grew by a strong 25.9 per cent to 9,616 cars. This helped the Asia Pacific region record the strongest sales growth of all main regions in August, with an increase of 20.2 percent to 12,586 cars. The locally-produced XC60, S60L and S90 models continued to be the main growth drivers.

 

The EMEA region also recorded double-digit sales growth of 18.9 per cent to 15,637 cars sold in August, as the region continued to see strong demand for the new V90 and XC90 as well as the XC60. Double-digit increases in key markets such as Sweden and Germany drove the result, while markets such as Italy, France, Norway and Spain also showed good performances.

 

The Americas region returned to growth in August, reporting a sales increase of 5 per cent to 9,486 cars, of which 7,994 in the United States. The most popular model in the region is the XC90, followed closely by the first-generation XC60.

 

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

 

 

 

August

January – August

 

 

2016

2017

Change

2016

2017

Change

Region EMEA

13 148

15 637

18.9%

189 700

203 183

7.1%

 

Sweden

3 254

4 853

49.1%

43 955

48 360

10.0%

Region Asia-Pacific

10 472

12 586

20.2%

77 099

95 509

23.9%

 

China

7 637

9 616

25.9%

54 496

70 797

29.9%

Region Americas

9 035

9 486

5.0%

62 306

59 043

-5.2%

 

USA

7 681

7 994

4.1%

52 919

49 063

-7.3%

Other

145

170

17.2%

1 967

2 063

4.9%

TOTAL

32 800

37 879

15.5%

331 072

359 798

8.7%

 

Globally, the Volvo XC60 was the best-selling model in August with 11,743 cars sold (2016: 9,942), followed by the XC90 with 5,926 cars sold (6,677). The Volvo V40/V40 Cross Country was third with 4,932 sold cars (4,944). 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).

 

 

Keywords:
Sales Volumes, Corporate
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