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Volvo Cars global sales up 17.2 per cent in the first two months of 2018 as first XC40s reach customers

 

Volvo Cars’ good start to 2018 continued in February after the premium car maker reported a global year-on-year sales increase of 12.1 per cent for the month, with deliveries of the new XC40 small SUV now underway.

 

Total sales for the month of February reached 40,930 cars compared to 36,515 a year earlier. Sales of the new XC60 and the 90 Series cars continued to be the main growth drivers. In the first two months of 2018, sales amounted to 84,368, up 17.2 per cent compared to a year ago.

 

Sales in China, Volvo Cars’ largest market, increased by 11.1 per cent in February, compared to the year before, on the back of a strong performance for the locally produced models, the XC60 SUV and the S90 and S60 sedans. Total sales for the month amounted to 6,531 cars compared to 5,878 in 2017.

 

In Europe, Volvo reported a solid 8.4 per cent increase in sales in February, compared with last year, selling 22,510 cars following strong customer demand for the new XC60, the 90 Series and the first deliveries of the new XC40.

 

The US market continued its sales momentum in February, growing by 35.1, compared with the same month last year, to 6,283 cars after strong sales of the XC90 and new XC60 SUVs.

 

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

 

 

February 

January – February

 

2017

2018

Change

2017

2018

Change

Europe

20,768

22,510

8.4%

39,622

43,570

10.0%

China

5,878

6,531

11.1%

14,240

18,068

26.9%

US

4,651

6,283

35.1%

8,120

11,850

45.9%

Other

5,218

5,606

7.4%

10,008

10,880

8.7%

TOTAL

36,515

40,930

12.1%

71,990

84,368

17.2%

 

Globally, the new Volvo XC60 was the best-selling model in February with 10,309 cars sold (2017: N/A), followed by the Volvo XC90 with 6,607 cars sold (5,000). The Volvo V40/V40 Cross Country was third with 6,109 sold cars (6,409). Sales figures by model can be found in the Sales Volumes section of the Global Newsroom.

 

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Volvo Car Group in 2017

For the 2017 financial year, Volvo Car Group recorded an operating profit of 14,061 MSEK (11,014 MSEK in 2016). Revenue over the period amounted to 210,912 MSEK (180,902 MSEK). For the full year 2017, global sales reached a record 571,577 cars, an increase of 7.0 per cent versus 2016. The results underline the comprehensive transformation of Volvo Cars’ finances and operations in recent years, positioning the company for its next growth phase.

 

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 571,577 cars in 2017 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.

 

In 2017, Volvo Cars employed on average approximately 38,000 (30,400) full-time employees. 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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