Volvo Cars’ sales momentum continued in May with global sales up 13.3 per cent compared with the same month last year, as the premium car maker grew in all its main markets.
In the first five months of 2018, sales grew by 13.6 per cent compared with the year before, to a total of 253,581 cars. Total sales in May reached 53,539 cars, with Volvo’s SUV line-up and 90 series cars as the month’s main growth drivers.
The news in the UK was equally strong. Sales for the month were up 13.7 per cent year on year, compared with a UK market average increase of 3.4 per cent. Market share for May was up 11.0 per cent compared with the same month last year (1.90 versus 1.71 per cent). Despite year-to-date sales being down 2.2 per cent compared with the first five months of 2017, Volvo out-performed the UK market, whose overall decline was 7.3 per cent for the same period. In fact, Volvo is the sixth-fastest-growing brand in the UK in terms of market share gains year to date – ahead of the likes of BMW, Jaguar, Land Rover and Mercedes-Benz. A 38.0 per cent increase in retailer new car order take year on year rounds off an impressive UK performance.
The US continued its good momentum in May, growing by 50.6 per cent to 9,338 cars compared with the same month last year, led by strong performance from Volvo’s SUV line-up.
Sales in China, Volvo’s largest market, increased by 8.2 per cent following high demand for the locally produced XC60 and S90 models. Total sales for the month amounted to 10,582 cars.
In Europe, sales reached 25,395 cars in May, increasing by 1.7 per cent compared with May 2017 following good sales of the 90 series cars as well as the XC60 and XC40.
Retail sales status (deliveries to end customers) for Volvo Car Group is as follows:
|
|
May |
January – May |
||||
|
|
2017 |
2018 |
Change |
2017 |
2018 |
Change |
|
Europe |
24,982 |
25,395 |
1.7% |
125,793 |
131,267 |
4.4% |
|
China |
9,779 |
10,582 |
8.2% |
41,801 |
49,792 |
19.1% |
|
US |
6,202 |
9,338 |
50.6% |
26,799 |
37,754 |
40.9% |
|
Other |
6,284 |
8,224 |
30.9% |
28,897 |
34,768 |
20.3% |
|
TOTAL |
47,247 |
53,539 |
13.3% |
223,290 |
253,581 |
13.6% |
Globally, the new Volvo XC60 was the best-selling model in May with 16,171 cars sold (2017: 48), followed by the Volvo XC90 with 7,979 cars sold (6,647). The Volvo V40/V40 Cross Country was third with 5,844 sold cars (7,997). Sales figures by model can be found in the Sales Volumes section of the Global Newsroom.
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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).
