Volvo Cars remains firmly on course for yet another year of record sales as global sales grew by 14.5 per cent in August, compared with the same period last year. The company sold a total of 43,361 cars during the month, driven by growth in all key regions of US, China and Europe.
During the January to August period Volvo sold a total of 411,931 cars globally, up 14.5 per cent compared to the same period last year. Volvo Cars reported global sales of 571,577 cars in 2017.
In the US, August sales grew 12.2 per cent on the back of the best-selling XC60 and XC90. The company sold a total of 8,970 cars during the month, as compared to 7,994 cars in August last year.
China grew by 18.4 per cent on strong demand for locally produced XC60 and S90. During the month, retail sales hit 11,386 cars, compared to 9,616 cars in August last year.
Europe reported sales of 14,923 cars in August, up 4.9 per cent from 14,221 cars the same month last year. The strong performance was driven by demand for the new XC60, the 90 series cars and the XC40.
|
August |
January-August |
|||||
|
2017 |
2018 |
Change |
2017 |
2018 |
Change |
|
|
Europe |
14,221 |
14,923 |
4.9% |
191,999 |
203,758 |
6.1% |
|
China |
9,616 |
11,386 |
18.4% |
70,797 |
82,987 |
17.2% |
|
US |
7,994 |
8,970 |
12.2% |
49,063 |
65,214 |
32.9% |
|
Other |
6,048 |
8,082 |
33.6% |
47,939 |
59,972 |
25.1% |
|
Total |
37,879 |
43,361 |
14.5% |
359,798 |
411,931 |
14.5% |
Globally, the new Volvo XC60 continued to be the best-selling model in the first eight months of the year with 116,381 cars sold (2017: 5,304 units), followed by the XC90 with total sales at 61,949 cars (52,659) and the Volvo V40/V40 Cross Country at 51,739 cars (60,695 units). During the first eight months, the XC40 sold a total of 39,286 cars and the S90 generated volumes of 39,149 cars (24,357).
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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. VolvoCars 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).
