...company's first SUV a leader in the segment
Irvine, CA (April 3, 2003) - Volvo Cars of North America (VCNA) announces that four months after being introduced to the market, the Volvo XC90, the company's first SUV, outsold its chief competitors to become the number one European brand in its segment. Volvo XC90 sales were almost 10 percent over BMW's X5 and 45 percent over Mercedes' ML.
In March, the XC90 led Volvo to near-record sales and a 25.6 percent increase for the month - 3,366 units were sold. "Our award-winning SUV has made an incredible impression on the marketplace," said Vic Doolan, VCNA president and CEO. "And with demand continuing to outpace supply, we see very encouraging signs for the remainder of 2003."
As a result of XC90 sales, Volvo closed the books on the first quarter with a gain of market share in the luxury segment.
To date, the XC90 is the recipient of two dozen awards, including North American Truck of the Year, and Motor Trend SUV of the Year. The range of recognition covers design, performance, a diversity of markets, regions and product descriptions, and also highlight Volvo's core value - safety.
Looking ahead, Doolan noted, "Strong wholesales during the month indicate that our dealers too are confident that our product range is in demand, as the rest of our model lineup has been the beneficiary from the increased consumer interest"
VCNA is part of the Volvo Car Corporation of Göteborg, Sweden. The company provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the United States, Canada, Mexico and Puerto Rico.
The 2003 Volvo automobile line includes the award-winning XC90, the sporty S60 sedan, the flagship S80 luxury sedan, versatile V70 wagon and rugged Cross Country, the C70 convertible, and the compact S40 and V40 models.
For Release - April 4, 2003
V2003-11
For More Information, Contact:
Roger Ormisher - 800.970.0888
VP, Public Affairs, Volvo Cars of North America, LLC
