Volvo Cars reports global sales growth of 5.7 per cent in February
Volvo Cars reports global sales growth of 5.7 per cent in February
Volvo Cars, the premium car maker, continued its path towards another record year in sales after reporting a 5.7 per cent year-on-year sales increase in February. Total sales for the month amounted to 36,515 cars, compared with 34,552 cars a year earlier. Growth over the first two months of 2017 amounted to 5.4 per cent.
Strong demand for the new 90 series cars continued to be an important factor in Volvo’s positive sales performance, while the soon-to-be-replaced XC60 remains the best-selling model overall. An all-new XC60 will be revealed at the Geneva Motor Show next week.
The Asia Pacific region reported sales growth of 19.4 per cent to 8,724 cars, helped by a strong performance in China, Volvo’s largest market. Sales in China rose by 20.8 per cent to 5,878 cars, with strong demand for the locally produced XC60 and S60L models, as well as the XC90 and S90.
Sales in the EMEA region increased by 5.1 per cent, amounting to 21,892 cars sold. Key markets such as Sweden, the United Kingdom and Italy underpinned the solid performance, with strong demand for the new V90 as well as Europe’s most popular premium mid-size SUV, the XC60. In Sweden, the new S90/V90 brought Volvo back to its traditional spot atop the list of best-selling models.
The Americas region reported sales of 5,625 cars, of which 4,651 were in the United States. The most popular model in the region is the XC60, followed closely by the XC90.
Retail sales status (deliveries to end customers) for Volvo Car Group is as follows:
|
| February | January - February | |||||
|
| 2016 | 2017 | Change | 2016 | 2017 | Change | |
| Region EMEA | 20,837 | 21,892 | 5.1% | 39,412 | 41,614 | 5.6% | |
|
| Sweden | 5,674 | 6,071 | 7.0% | 9,615 | 10,610 | 10.3% |
| Region Asia-Pacific | 7,308 | 8,724 | 19.4% | 17,253 | 19,923 | 15.5% | |
|
| China | 4,866 | 5,878 | 20.8% | 12,094 | 14,240 | 17.7% |
| Region Americas | 6,156 | 5,625 | -8.6% | 11,187 | 9,954 | -11.0% | |
|
| USA | 5,262 | 4,651 | -11.6% | 9,504 | 8,120 | -14.6% |
| Other | 251 | 274 | 9.2% | 460 | 499 | 8.5% | |
| TOTAL | 34,552 | 36,515 | 5.7% | 68,312 | 71,990 | 5.4% |
Globally, the Volvo XC60 was the best-selling model in February, with 11,393 cars sold (2015: 9,425), followed by the Volvo V40/V40 Cross Country, with 6,409 cars sold (6,200). The XC90 was third, with 5,000 sold cars (6,056). Sales figures by model can be found in the Sales Volumes section of the Global Newsroom.
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Volvo Car Group in 2016
For the 2016 financial year, Volvo Car Group recorded an operating profit of 11,014 MSEK (6,620 MSEK in 2015). Revenue over the period amounted to 180,672 MSEK (164,043 MSEK). For the full year 2016, global sales reached a record 534,332 cars, an increase of 6.2 per cent versus 2015. 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 534,332 cars in 2016 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 2016, Volvo Cars had more than 31,000 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).