Volvo Cars reports 10.2 per cent global sales growth in August

Volvo | Sep 5, 2019 at 12:00 AM

Volvo Cars reported a solid sales performance in August, with global volumes up 10.2 per cent compared with the same period last year.

Total sales during the month reached 47,796 cars, as all regions of US, China and Europe reported a volume growth in August.

In the January to August period, Volvo Cars’ total sales reached 443,168 cars, up 7.6 per cent compared with the same period last year.

Strong demand for Volvo’s award winning SUVs led by the XC60, and followed by the XC40 and the XC90, supported the sales performance in August. The company’s latest models like the US-built S60 sedan, V60 estate and V60 Cross Country also contributed to the increased volumes.

European sales during the month reached 16,639 cars, up 11.5 per cent compared with the same period last year. Volvo’s top three markets in the region, Sweden, United Kingdom and Germany reported growth of 29.4 per cent, 30.8 per cent and 8.6 per cent respectively in August, compared with the same period last year. The XC60 and the XC40 were the highest selling models in the region during the month.

US sales in August stood at 9,194 cars, up 2.5 per cent compared with the same period last year. XC90 was the top selling model in the region during the month, followed by the XC60.

Sales in China last month reached 14,212 cars, up 24.8 per cent, compared with the same period last year. The strong performance came on the back of continued high demand for the locally produced XC60 and the S90.

A detailed breakup of Volvo’s regional sales is given below.

Globally, the XC60 continued to be the top selling model in August with sales reaching 14,969 cars (2018: 13,364 units), followed by the XC40 with sales of 8,200 cars (2018: 6,540 units) and the XC90 at 7,222 cars (2018: 7,134 units).

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Volvo Car Group in 2018

For the 2018 financial year, Volvo Car Group recorded an operating profit of 14,185 MSEK (14,061 MSEK in 2017). Revenue over the period amounted to 252,653 MSEK (208,646 MSEK). For the full year 2018, global sales reached a record 642,253 (571,577) cars, an increase of 12.4 per cent versus 2017. 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 642,253 cars in 2018 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding of China since 2010.

In 2018, Volvo Cars employed on average approximately 43,000 (39,500) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for China 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: by the middle of next decade it aims for half of its global sales to be fully electric cars and to offer half of all cars to customers via its subscription service. By then, it also expects one-third of its cars sold to be autonomous.