ROCKLEIGH, NJ (August 3, 2020) Volvo car USA strengthened its growth position in July 2020, posting 9,697 cars sold – an increase of 10.2 percent over the same period last year. This result marks the second consecutive month of growth for the brand as it maintained its strength amongst consumers.
“Our Volvo colleagues and retail partners across the Americas Region have shown incredible dedication in supporting our customers and business,” said Anders Gustafsson, President and CEO of Volvo Car USA. “I am very proud of our team for working together during this difficult period to help us achieve another month of positive sales growth. The strength of our brand comes from the power of our people, and from the way our products and services meet the evolving needs of consumers in a changing world.”
While nearly all car lines were up year-over-year, Volvo’s portfolio of SUVs accounted for 81 percent of sales with the Volvo XC40 premium compact SUV delivering its best July ever.
Heading into the eighth month of the year, Volvo Car USA is down just 10.1 percent for the year, a rebound of 3.6 percent in a single month.
About Volvo Car USA
Volvo Car USA LLC, (www.volvocars.com/us) is a subsidiary of Volvo Car Group of Gothenburg, Sweden. VCUSA provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the United States. For more information please refer to the VCUSA media website at: http://www.media.volvocars.com/us.
Volvo Car Group in 2019
For the 2019 financial year, Volvo Car Group recorded an operating profit of 14.3 BSEK (14.2 BSEK in 2018). Revenue over the period amounted to 274.1 BSEK (252.7 BSEK). For the full year 2019, global sales reached a record 705,452 (642,253) cars, an increase of 9.8 per cent versus 2018. 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 Cars was founded in 1927. Today, it is one of the most well-known and respected premium car brands in the world with sales of 705,452 cars in 2019 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.
In 2019, Volvo Cars employed on average approximately 41,500 (41,500) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).
Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected into a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to establish five million direct consumer relationships. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.
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