Press Releases

Volvo Cars reports double-digit sales growth of 10.1 per cent in first eight months, August sales up 8.7 per cent

 

  • Growth in all main sales regions, year-to-date sales of 331,070 cars
  • Strong demand for new XC90 is main growth driver
  • Sales growth of 8.7 per cent in August, 15th consecutive month of growth

 

Volvo Cars continued its global sales momentum last month, posting a sales increase of 10.1 per cent for the first eight months of the year, with growth in all main sales regions.

 

Sales of the new Volvo XC90 were the main growth driver globally, while the XC60 continues to be the best-selling model overall. August sales were up 8.7 per cent compared with the same month in 2015.

 

The United States was Volvo’s fastest-growing key market over the year-to-date period, reporting retail sales of 52,917 cars, representing an increase of 29.5 per cent. The new Volvo XC90 continues to be the best-selling Volvo model in the US, followed by the XC60. Sales in the US were up 31.3 per cent in August.

 

Sales in China also continued to increase, with year-to-date growth now close to 10 per cent after a strong August. Total retail sales for the first eight months amounted to 54,496 cars. The best-selling models are the locally produced Volvo XC60 and S60L models.

 

Sales in Western Europe were up 7 per cent year-to-date, with healthy demand in several key markets including Germany, the UK, Italy and France. The Volvo XC60 is the best-selling model in the region.

 

Retail sales status (deliveries to end customers) for Volvo Car Group is as follows:

 

August

 

January – August

               
 

2015

2016

Change

 

2015

2016

Change

               

China

5,574

7,637

37.0%

 

49,698

54,496

9.7%

               

USA

5,870

7,707

31.3%

 

40,854

52,917

29.5%

               

Sweden

3,776

3,254

-13.8%

 

41,018

43,955

7.2%

               

Western Europe

9,091

7,780

-14.4%

 

118,182

126,432

7.0%

               

Other markets

5,884

6,448

9.6%

 

50,855

53,270

4.7%

               

TOTAL

30,195

32,826

8.7%

 

300,607

331,070

10.1%

               

 

Globally, the Volvo XC60 was the best-selling model in the first eight months of 2016, with 96,386 cars sold (2015: 100,594), followed by the Volvo V40/V40 Cross Country, with 61,449 sold cars (64,999). The new XC90 was third, with 58,491 cars sold (14,039). Sales figures by model can be found in the Sales Volumes section of the Global Newsroom.

 

-ends-

 

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Volvo Car Group in 2015

For the 2015 financial year, Volvo Car Group recorded an operating profit of 6,620 MSEK (2,128 MSEK in 2014). Revenue over the period amounted to 164,043 MSEK (137,590 MSEK). For the full year 2015, global sales reached a record 503,127 cars, an increase of 8 per cent versus 2014. The record sales and operating profit cleared the way for Volvo Car Group to continue investing in its global transformation plan.

 

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 503,127 in 2015 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 2015, Volvo Cars had almost 29,000 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), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China), and body components in Olofström (Sweden).

Keywords:
Sales Volumes, Overview

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