Volvo Cars, the premium car maker, remains on track for a fourth consecutive year of record sales after another strong sales month in October. For the first 10 months, global retail sales amounted to 461,313 cars, up 8.6 per cent compared to a year ago.
Strong demand for the new XC60 as well as 90-series cars continues to be an important factor in the company’s growth. October sales grew 5.3 per cent compared to the same month last year, to 47,841 Volvo cars globally.
Sales in China, Volvo’s largest market, continued to increase rapidly in October. With 10,744 cars sold in the market, sales were up 29.5 per cent compared to the same period last year. The locally produced XC60, S90 and S60L models continued to be the main growth drivers. The Asia Pacific region as a whole was Volvo’s fastest growing region in October, up 24.0 per cent compared to a year ago.
In the US, Volvo reported a robust 10.5 per cent sales increase year-on-year for the month of October following strong sales of the XC90, new XC60 and the S90. The Americas region as a whole grew by 14.3 per cent in October.
In the EMEA region, sales in the first 10 months of 2017 were up 5.0 per cent compared to the same period last year to 260,593 cars on the back of strong demand for the new 90 series cars and both the first generation and new XC60.
Retail sales status (deliveries to end customers) for Volvo Car Group is as follows:
|
|
October |
January - October |
|||||
|
|
2016 |
2017 |
Change |
2016 |
2017 |
Change |
|
|
Region EMEA |
27,029 |
25,741 |
-4.8% |
248,064 |
260,593 |
5.0% |
|
|
|
Sweden |
6,678 |
6,444 |
-3.5% |
56,059 |
60,549 |
8.0% |
|
Region Asia-Pacific |
10,846 |
13,448 |
24.0% |
100,029 |
123,747 |
23.7% |
|
|
|
China |
8,296 |
10,744 |
29.5% |
71,683 |
93,085 |
29.9% |
|
Region Americas |
7,567 |
8,652 |
14.3% |
76,680 |
76,973 |
0.4% |
|
|
|
USA |
6,340 |
7,008 |
10.5% |
64,874 |
63,971 |
-1.4% |
|
TOTAL |
45,442 |
47,841 |
5.3% |
424,773 |
461,313 |
8.6% |
|
Globally, the first generation Volvo XC60 was the best-selling model in October with 8,049 cars sold (2016: 14,558), followed by the Volvo V40/V40 Cross Country with 7,465 cars sold (8,897). The new XC90 was third with 7,471 sold cars (7,231). 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).
