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Volvo Cars’ global sales up by 12.9 per cent in September

Volvo Cars’ global sales up by 12.9 per cent in September

 

Volvo Cars has maintained a strong sales momentum in September, with global sales rising 12.9 per cent, compared with the same period last year. The company sold 60,622 cars during the month, as sales grew in all its key regions of US, China and Europe.

 

In the first nine months of 2018, Volvo sold more cars than it did in the whole of 2014, which was also a record year. Sales for the January to September period reached 472,553 cars, up 14.3 per cent compared to the same period last year. In 2014 Volvo sold 465,866 cars.

 

The strong performance in 2018 has put Volvo Cars on course for a fifth consecutive year of record sales, with the new V/S60 models yet to hit the showrooms. The company reported sales of 571,577 cars in 2017.

 

During the month of September, US sales grew 10.3 per cent, as demand for Volvo’s SUVs line up continued to be strong. Volvo sold a total of 8,715 cars during the month, compared with 7,900 cars sold in September 2017.

 

China reported a growth of 14.4 per cent in September with retail sales hitting 13,205 cars. The robust performance was on the back of high demand for the locally assembled XC60 and S90 models.

 

In Europe, sales reached 29,922 cars in September, increasing by 8.4 per cent, compared with September 2017, following high demand for the XC60 and XC40 models.

 

             
 

September

 

January-September

 
 

2017

2018

Change

2017

2018

Change

Europe

27,604

29,922

8.4%

219,603

233,680

6.4%

China

11,544

13,205

14.4%

82,341

96,192

16.8%

US

7,900

8,715

10.3%

56,963

73,929

29.8%

Other

6,626

8,780

32.5%

54,565

68,752

26,0%

Total

53,674

60,622

12.9%

413,472

472,553

14.3%

 

 

Globally, the new Volvo XC60 continued to be the best-selling model in the first nine months of the year with 134,975 cars sold (2017: 10,473 units), followed by the XC90 with total sales at 70,329 cars (2017: 60,596) and the Volvo V40/V40 Cross Country at 59,501 cars (2017: 69,116 units). During the first nine months, the XC40 sold a total of 48,543 cars and the S90 generated volumes of 43,834 units (2017: 28,933 units).

 

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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. VolvoCars 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:
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