The new Volvo XC60 mid-size SUV has been named World Car of the Year 2018 at the New York Auto Show, adding another accolade to Volvo’s growing list.
The XC60 also scooped the prestigious North American Utility of the Year Award earlier this year, while the XC40 small SUV was named European Car of the Year at the Geneva Motor Show earlier this month. The World Car of the Year win is the first in this competition for Volvo Cars, the premium car maker.
“I am pleased to see our company’s product investments paying off,” said Håkan Samuelsson, President and CEO of Volvo Cars. “We are up against some tough competition, but this award for the XC60 shows that Volvo has the right combination of design, connectivity and safety that appeals to customers across the world.”
In the new XC60, Euro NCAP’s best overall performer in 2017, Volvo’s City Safety Autonomous Emergency Braking system has been enhanced with steering support for when automatic braking alone may not help avoid a potential collision. In addition, Oncoming Lane Mitigation with Steer Assist helps mitigate head-on collisions, and Blind Spot Information System (BLIS) with Steer Assist functionality has been added to reduce the risk of lane-changing collisions.
The XC60 is available with a range of diesel and petrol engines, as well as Volvo Cars’ award-winning T8 Twin Engine petrol plug-in hybrid at the top of the powertrain range, delivering 390hp and acceleration from 0-100km/h in just 5.3 seconds.
These two accolades come hot on the heels of Mr Samuelsson’s World Car Person of the Year recognition, awarded by the same panel of international media in Geneva earlier this month. Mr Samuelsson was given this inaugural award in recognition of his work in driving the success of Volvo Cars in recent years.
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. 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).