Volvo Car Group, the premium car maker, has reported third quarter operating profit of SEK2,067m compared with SEK1,276m in the same period last year, and a year-on-year increase in revenue to SEK41.1bn from SEK36.1bn previously. The operating margin rose from 3.5 per cent in the third quarter of 2015 to 5 per cent in 2016.
Volvo Cars continued its global sales momentum in September and reported its 16th consecutive month of global growth on the back of increases in all main regions. Sales for the first nine months are up 9.6 per cent year-on-year to 379,329 cars, while September sales rose by 6 per cent to 48,259 cars.
Volvo Cars continued to gain momentum globally in July and posted a 9.3 per cent increase in retail sales for the month, selling 41,681 cars. Sales of the new Volvo XC90 were the main growth driver globally, while the XC60 continues to be the best-selling model overall. Global growth for the first seven months was 10.3 per cent.
Volvo Cars reported a solid double-digit sales increase for the first six months of the year, posting growth of 10.5 per cent to 256,563 cars compared with the same period in 2015. Sales of the new Volvo XC90 were the main growth driver globally.
Volvo Cars, the premium car maker, has announced a robust start to 2016, with operating profit for the first three months of the year increasing strongly to SEK 3.1bn and the operating profit margin reaching 7.5 per cent, as sales improved in Europe, Asia and the US.
Volvo’s ground-breaking XC90 SUV has received further recognition for its role in redefining the SUV segment – this time in the familiar Volvo territory of safety – receiving the 2015 Euro NCAP Best in Class award for both Large Off-Road and Overall Performance categories.