Volvo Cars’ European sales increased 12.9 per cent in the first eight months of this year, making it the fastest growing top 5 premium brand in Europe, according to independent figures compiled by the European Automobile Manufacturers Association (ACEA).
The strong first eight months of the year is attributable to healthy performances in larger European markets such as Germany, the UK and Sweden, while markets such as France, Italy, Poland, Spain and Finland have also shown steady growth.
Europe is Volvo Cars’ most important sales region, representing more than half of the company’s total global sales.
“The overall recovery of the European car market remains cautious but Volvo is clearly bucking that trend,” said Håkan Samuelsson, President and CEO of Volvo Cars. “I am pleased to see our cars selling so well in what is one of our largest and most important regions. Looking forward, we are well-positioned to benefit further from the European recovery.”
Customers across Europe have responded well to refreshed and updated versions of the Volvo S60, V60, XC60, V70, XC70 and S80, all of which were launched in early 2013 as part of a large renewal programme.
The launch of Volvo Cars’ new two-litre, four-cylinder Drive-E powertrain family also boosted Volvo‘s appeal to European car buyers. Volvo’s Drive-E powertrains offer drivers’ an unrivalled combination of power and environmental friendliness.
Elsewhere around the world, Volvo Cars has seen strong growth in China, its largest single market, where retail sales rose 36.9 per in the first eight months of the year, outgrowing its competitors.
The performances in China and Europe have offset a decline of 10.9 per cent in the US over the same period, resulting in overall global retail growth of 9.2 per cent for the first eight months of 2014.
Globally, Volvo Cars projects sales growth of approximately 10 per cent for the whole of 2014.
Paris Premiere: the all-new Volvo XC90
The general public will get their first look at the all-new Volvo XC90 at the 2014 Paris Motor Show.
The all-new XC90 is a visually striking, premium quality seven-seat SUV with world leading safety features, a top-of-the-line Twin Engine powertrain with close to 400 horsepower and CO2 emissions of around 60 g/km, an unrivalled combination of power and fuel efficiency and a superlative interior finish. The car also features beautiful interior and exterior design including an innovative tablet-like touch screen control console, which forms the heart of an all-new in-car control system.
Three years in the making and part of a USD11bn investment programme, the all-new XC90 marks the beginning of a new chapter in Volvo’s history. The car captures Volvo’s future design direction, incorporates its own range of new technologies and utilises its new Scalable Product Architecture (SPA) technology and its highly efficient two-litre, four-cylinder Drive-E powertrain family.
As such, the all-new XC90 is firm evidence of the Volvo-by-Volvo strategy. Its outstanding combination of luxury, space, versatility, efficiency and world-class safety will bring the SUV segment into a new dimension, just as the original XC90 achieved in 2002.
“SPA has enabled us to create the world’s first SUV without compromises,” said Dr Peter Mertens, Senior Vice President, Research and Development of Volvo Car Group. “You get the in-command feel, generous interior space and flexible capability combined with the agility and smooth comfort of a much smaller and lower car.”
“The adrenaline rush that is key to true driving pleasure is delivered by powertrains that offer an unrivalled combination of power and clean operation. And since the all-new XC90 carries the Volvo badge, world-class safety is standard,” added Peter Mertens.
Volvo Car Group in 2013
For the 2013 financial year, Volvo Car Group recorded an operating profit of 1,919 MSEK (66 MSEK in 2012). Revenue over the period amounted to 122,245 MSEK (124,547 MSEK), while net income amounted to 960 MSEK (-542 MSEK). Global retail sales for the year amounted to 427,840 (421,951) cars, an increase of 1.4 per cent compared to 2012. The operating profit was the result of cost control and strong sales and was further tangible proof of Volvo Car Group’s progress in implementing its transformation plan. For the full year 2014, the company expects to stay in black figures and predicts to record a global sales increase of close to 10 per cent.
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 427,000 in 2013 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.
As of December 2013, Volvo Cars had over 23,000 employees worldwide. 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) and Chengdu (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).