Volvo Cars started 2019 on a strong note after the company posted a 16.7 per cent growth in global sales for January, compared to the same period last year, as all the key regions of US, China and Europe contributed to the increase.
In January, Volvo Cars sold a total of 50,679 cars, as demand for its award-winning SUV line-up continued to be strong. The company’s newest cars, the V60 estate and the S60 sedan, also contributed to the strong sales increase.
In China, sales grew by 3.6 per cent to 11,957 cars in January, compared with the same month last year, driven by demand for the locally assembled XC60 and S90 models.
Sales in the US grew by 5.2 per cent to 5,854 cars in January, compared with the corresponding month in 2018. XC60 was the bestselling model in the region during the month, followed by the XC90.
Volvo Cars’ European sales grew by 24.4 per cent in January to 26,195 cars, compared with the same period last year. The robust performance was on the back of high demand for the XC60, XC40 SUVs and the new V60.
A detailed regional break-up of sales for January is given below.
|
January |
January |
||
|
2018 |
2019 |
Change |
|
|
Europe |
21,061 |
26,195 |
24.4% |
|
China |
11,537 |
11,957 |
3.6% |
|
US |
5,567 |
5,854 |
5.2% |
|
Other |
5,274 |
6,673 |
26.5% |
|
Total |
43,439 |
50,679 |
16.7% |
In January, Volvo’s XC60 was the top selling model with sales reaching 15,593 cars (2018: 11,656), followed by the XC40, with total sales at 8,113 cars (2018: 395 units), and the Volvo XC90 at 6,520 cars (2018: 6,772 units). The Volvo V40 and V40 Cross Country sold 4,921 units (2018: 6,043 units) and new V60 Estate sedan sold 4,097 units in January.
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Volvo Car Group in 2017/2018
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 2018, global sales reached a record 642,253 cars, an increase of 12.4 per cent versus 2017. 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 642,253 cars in 2018 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), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).
