Press Releases

Volvo Cars reports double-digit sales growth of 10.5 per cent for first six months of 2016

 

  • Sales of 256,563 cars in first half of 2016, growth in all major sales regions
  • Strong demand for new XC90 main growth driver
  • June sales up 10.6 per cent, 13th consecutive month of growth

 

Volvo Cars reported a solid double-digit sales increase for the first six months of the year, posting growth of 10.5 per cent to 256,563 cars compared to the same period in 2015. Sales of the new Volvo XC90 were the main growth driver globally.

 

Volvo reported growth in all major sales regions in the first half of 2016. In Europe, sales rose by 10.3 percent to 138,851 cars as a result of strong performances in key markets such as Sweden, Germany, the UK and France. The XC60 was the best-sold Volvo model in the region, while the new XC90 also saw strong demand.

 

Volvo’s resurgence in the United States also continued apace, as the company delivered close to 25 per cent more cars over the six-month period. As total sales for the period rose to 36,654 cars, demand for the new XC90 was the key growth driver and the SUV was the best-selling Volvo model in the US.

 

China was Volvo’s largest single market in the first half with 40,688 cars sold, an increase of 6.3 per cent year-on-year, driven by growing demand for the new XC90 as well as the locally produced XC60 and S60L sedan.

The new Volvo XC90

In June, Volvo retail sales increased by 10.6 per cent overall compared to the same month in 2015 to a total of 51,431 cars. As such, it was the 13th consecutive month of global retail sales growth for Volvo. The US was the largest single market for the month, with 8,588 cars sold (+43.5 per cent), followed by China, Sweden, the UK and Germany.

 

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

 

June

 

January – June

               
 

2015

2016

Change

 

2015

2016

Change

               

China

7 282

7 727

6,1%

 

38 292

40 688

6,3%

               

USA

5 985

8 588

43,5%

 

29 367

36 654

24,8%

               

Sweden

6 371

7 228

13,5%

 

32 460

36 455

12,3%

               

Western Europe

19 004

20 098

5,8%

 

93 398

102 396

9,6%

               

Other markets

7 878

7 744

-1,7%

 

38 767

40 324

4,0%

               

TOTAL

46 520

51 431

10,6%

 

232 284

256 563

10,5%

               

 

Globally, the Volvo XC60 was the best-selling model in the first half of 2016 with 73,817 cars sold (H1 2015: 78,066), followed by the Volvo V40/V40 Cross Country with 48,670 sold cars (51,507). The new XC90 was third with 43,911 cars sold (6,719). Sales figures by model can be found in the Sales Volumes section of the Global Newsroom.

 

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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). In 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, Mission
Descriptions and facts in this press material relate to Volvo Cars' international car range. Described features might be optional. Vehicle specifications may vary from one country to another and may be altered without prior notification.