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Volvo Cars sets new yearly sales record with volumes up 13.5 per cent in the first 11 months of 2018

Volvo Cars sets new yearly sales record with volumes up 13.5 per cent in the first 11 months of 2018

 

Volvo Cars reported a new record in global annual sales as 2018 volumes rose by 13.5 per cent to 582,096 cars for the January to November period, compared with 513,055 cars in the same period last year.

 

The sales result means that with one more month still to go in 2018, Volvo Cars has already beaten 2017’s full year sales record of 571,577 cars. In November, the company sold 56,034 cars, up 8.3 per cent compared with the same period last year.

 

Sales of Volvo Cars’ award-winning SUV line-up boosted the result, with growth across all main regions driven in particular by the XC60 and the XC40, which hit showrooms at the beginning of the year. The company’s new V60 and V60 Cross Country also gave a boost to the volumes, while the new US-made S60 sedan is starting to reach dealerships.

 

During the January to November period, US sales grew by a robust 24.5 per cent to 89,437 cars compared with the same period last year. The strong performance came on the back of growing demand for its SUV line-up, led by the XC60. In November, Volvo Cars sold 8,181 cars, up 4.2 percent compared with the same month last year.

 

Retail sales in China reached 118,725 cars in the first 11 months, up 13.8 per cent compared with the same period last year (104,344 cars sold). The locally assembled XC60 and S90 models were the main growth drivers. In November the company sold 11,450 cars in China.

 

Europe also delivered a strong performance this year. Total retail sales in the January-November period reached 288,369 cars, up 7.3 per cent, helped by strong demand for the new 90 Series cars and the new XC60. In November the company sold 27,797 cars in the region.

 

 

November

 

January-November

 
 

2017

2018

Change

2017

2018

Change

Europe

25,190

27,797

10.3%

268,758

288,369

7.3%

China

11,259

11,450

1.7%

104,344

118,725

13.8%

US

7,854

8,181

4.2%

71,825

89,437

24.5%

Other

7,439

8,606

15.7%

68,128

85,565

25.6%

Total

51,742

56,034

8.3%

513,055

582,096

13.5%

 

Globally, the new Volvo XC60 continued to be the best-selling model in the first 11 months of the year with 171,178 cars sold (2017: 169,673 units), followed by the XC90 with total sales at 85,159 cars (2017: 76,482) and the Volvo V40/V40 Cross Country at 70,875 cars (2017: 85,289 units). During the first 11 months, a total of 67,104 XC40s were sold while the S90 generated volumes of 52,034 units (2017: 39,815 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:
Sales Volumes
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