Volvo Cars’ global sales up 4.6 per cent on strong demand for Volvo XC90

Volvo Car Group announces July retail sales

Volvo Cars’ global sales up 4.6 per cent on strong demand for Volvo XC90

• Global retail sales of 38,128 cars in July
• Europe up 10.5 per cent boosted by Germany and Sweden
• More than 52,000 orders for the new Volvo XC90

Volvo Cars posted a 4.6 per cent increase in retail sales for the month of July, selling 38,128 cars globally. Europe as well as the US market were key drivers of growth. Both regions reported significant increases based on sales of the new Volvo XC90 and continued strong demand for Volvo’s ’60-series carlines.

Retail sales in Europe including Sweden grew 10.5 per cent where Germany and Sweden represented the key growth drivers. The new Volvo XC90 is behind a large part of the incremental sales while also the other XC-carlines are strong in Sweden. Looking at Europe as a whole, the popularity for Volvo’s best-seller XC60 continues to grow.

China was Volvo Cars’ largest market in July with 5,832 sold cars. The decline in in China reflects the current overall market uncertainty and instability. The locally produced XC60 and S60L models are the most sold Volvo models in China.

Sales in the US market amounted to 5,617 retail sold cars representing a 14.7 per cent increase versus the same month last year. The success for the new Volvo XC90 as well as demand for the Volvo V60 and XC60 models were the main factors behind the incremental sales.

“The success for the new Volvo XC90 is now starting to show in our sales performance but I am also happy to see that our ’60-series continues to grow in demand globally”, said Alain Visser, Senior Vice President Marketing, Sales and Customer Service at Volvo Cars. “With growing sales in the US market and XC90 volumes ramping up I am confident of continued strong sales in the second half of this year”.

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

The Volvo XC60 was the best-selling model in July with 12,933 sold cars (2014: 10,803), followed by the Volvo V40 and V40 Cross Country for which deliveries reached a total of 7,098 cars (2014: 9,006). The S60 and S60L models were third best selling at 4,533 cars (2014: 5,612).

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Volvo Car Group in 2014

For the 2014 financial year, Volvo Car Group recorded an operating profit of 2,252 MSEK (1,919 MSEK in 2013). Revenue over the period amounted to 129,959 MSEK (122,245 MSEK). For the full year 2014, global sales reached a record 465,866 cars, an increase of 8.9 per cent versus 2013. 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 465,866 in 2014 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 2014, Volvo Cars had over 26,000 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) and Chengdu (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).