Volvo Cars, the premium car maker, reported a global year-on-year sales increase of 14.1 per cent for the first quarter of 2018 as sales in all main markets increased compared with the same period last year.
Total sales in the quarter, which saw the XC40 and XC60 SUVs be crowned European Car of the Year and World Car of the Year respectively, reached 147,407 cars, up from 129,148 cars a year earlier as Volvo’s SUV line-up and the 90 range as a whole proved popular with customers.
The US market had a very good first quarter, growing its sales volume by 49.0 per cent compared with the first quarter the year before to 20,083 cars. The XC90 and the XC60 SUVs were the best-selling models.
In China, Volvo Cars’ largest market, sales increased by 23.3 per cent in the first quarter of 2018, compared with the first quarter the year before, following continued strong demand for the locally produced XC60 and S90 models. Total first quarter sales reached 28,768 cars, increasing from 23,335 in the same period 2017.
Volvo reported a solid 5.7 per cent sales increase in Europe for the first quarter, compared with last year, selling 79,512 cars on strong demand for the new XC60, the 90 Series cars and the new XC40 small SUV, for which deliveries started in February.
Total sales for the month of March grew by 10.3 per cent to 63,038 cars compared to a year earlier.
Retail sales status (deliveries to end customers) for Volvo Car Group is as follows:
|
|
March |
January – March |
||||
|
|
2017 |
2018 |
Change |
2017 |
2018 |
Change |
|
Europe |
35,623 |
35,941 |
0.9% |
75,245 |
79,512 |
5.7% |
|
China |
9,095 |
10,700 |
17.6% |
23,335 |
28,768 |
23.3% |
|
US |
5,356 |
8,233 |
53.7% |
13,476 |
20,083 |
49.0% |
|
Other |
7,084 |
8,164 |
15.2% |
17,092 |
19,044 |
11.4% |
|
TOTAL |
57,158 |
63,038 |
10.3% |
129,148 |
147,407 |
14.1% |
Globally, the new Volvo XC60 was the best-selling model in Q1 with 38,241 cars sold (2017: N/A), followed by the Volvo XC90 with 22,962 cars sold (19,170). The Volvo V40/V40 Cross Country was third with 22,207 sold cars (23,546). 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).
