Volvo Car Group announces March and first-quarter global retail sales: growth of 11.5 per cent in March, first quarter up 11.9 per cent

Volvo Car Group announces March and first-quarter global retail sales: growth of 11.5 per cent in March, first quarter up 11.9 per cent

• First-quarter sales of 120,591 cars, up 11.9 per cent

• 10 consecutive months of global growth

• Sales up in all key regions – Europe, US and China

• New Volvo XC90 is best-selling Volvo model in the US and the global growth driver

• UK sales grow 12.4% in March to 7,488 cars

Volvo Cars continues to grow sales globally in March and posted an 11.5 per cent increase in retail sales for the month, selling 52,279 cars. Sales of the all-new Volvo XC90 were the main growth driver globally, while the XC60 was the best-selling model overall. Global growth in the first quarter amounted to 11.9 per cent.

The United Kingdom was Volvo Cars’ biggest and fastest-growing European market in March. It recorded sales of 7,488 cars in March, up 12.4 per cent on March 2015. The XC60 was the best-selling model in the UK for the month, followed by the V40 and the XC90.

Jon Wakefield, Sales Director at Volvo Car UK, said: “This is a tremendous result for Volvo in the UK and for Volvo globally. For the UK to be the biggest market in Europe in March is testament to the incredible work done by our dealer network and everyone in Volvo Car UK – and, of course, to the desirability of our products. With double-digit sales growth secured for the crucial new registration month of March, we’re well on track for another record-breaking year for Volvo in the UK.”

Sales in Europe as a whole were up by 13.1 per cent, with growth across the region. The Volvo XC60 was the best-selling model in Europe, while the new XC90 represented most of the growth for the month.

The United States reported a sales increase of 15.9 per cent versus the same month last year, marking the ninth consecutive month of double-digit growth. Retail sales amounted to 6,857 cars. The new Volvo XC90 was the key growth driver and the best-selling Volvo model in the US.

Volvo China reported retail sales of 7,542 cars in March, up 13.9 per cent. The best-selling cars were the locally produced Volvo XC60 and S60L models.

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

The Volvo XC60 was the best-selling model globally in March, with 14,676 sold cars (2015: 15,925), followed by the Volvo V40 and V40 Cross Country, at 10,965 cars (11,585). The new Volvo XC90 was the third best-selling model, with 8,541 sold cars (new). Sales figures by model can be found in the Sales Volumes section of the Global Newsroom.

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Volvo Car Group in 2015

For the 2015 financial year, Volvo Car Group recorded an operating profit of 6,620 MSEK (2,128 MSEK in 2014). Revenue over the period amounted to 164,043 MSEK (137,590 MSEK). In 2015, global sales reached a record 503,127 cars, an increase of 8 per cent versus 2014. 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 503,127 in 2015 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 2015, Volvo Cars had almost 29,000 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).