Volvo sales growth

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Volvo Cars reported a solid double-digit sales increase for the first six months of the year, posting growth of 10.5 per cent to 256,563 cars compared with the same period in 2015. Sales of the new Volvo XC90 were the main growth driver globally.

Volvo reported growth in all major sales regions in the first half of 2016. In Europe, sales rose by 10.3 per cent to 138,851 cars as a result of strong performances in key markets such as Sweden, Germany, the UK and France. The XC60 was the best-selling Volvo model in the region, while the new XC90 also saw strong demand.

The United Kingdom recorded sales of 22,629 cars in the first six months of the year, up 7.0 per cent over the same period last year. The XC60 was the best-selling model in the UK in the first half of the year, followed by the V40 and the XC90.

“Jon Wakefield, Acting Managing Director of Volvo Car UK, said: “This impressive half-year result and sustained growth is a reflection of the continued hard work from everyone here at Volvo Car UK and our dealer network. It is also yet more proof of the desirability of our products. Volvo has ambitious plans – both in the UK and on a global scale – and the UK’s strong performance shows that we’re right to be confident about another record-breaking year for the company.”

Volvo’s resurgence in the United States also continued apace, as the company delivered close to 25 per cent more cars over the six-month period. As total sales for the period rose to 36,654 cars, demand for the new XC90 was the key growth driver, and the SUV was the best-selling Volvo model in the US.

China was Volvo’s largest single market in the first half of 2016, with 40,688 cars sold, an increase of 6.3 per cent year-on-year, driven by growing demand for the new XC90 as well as the locally produced XC60 and S60L saloon.

In June, Volvo retail sales increased by 10.6 per cent overall compared with the same month in 2015, to a total of 51,431 cars. As such, it was the 13th consecutive month of global retail sales growth for Volvo. The US was the largest single market for the month, with 8,588 cars sold (+43.5 per cent), followed by China, Sweden, the UK and Germany.

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

June January – June
2015 2016 Change 2015 2016 Change
China 7,282 7,727 6.1% 38,292 40,688 6.3%
USA 5,985 8,588 43.5% 29,367 36,654 24.8%
Sweden 6,371 7,228 13.5% 32,460 36,455 12.3%
Western Europe 19,004 20,098 5.8% 93,398 102,396 9.6%
(of which UK sold) (4,317) (4,824) (11.7%) (21,156) (22,629) (7.0%)
Other markets 7,878 7,790 -1.7% 38,767 40,370 4.0%
TOTAL 46,520 51,431 10.6% 232,284 256,563 10.5%

Globally, the Volvo XC60 was the best-selling model in the first half of 2016, with 73,817 cars sold (H1 2015: 78,066), followed by the Volvo V40/V40 Cross Country, with 48,670 sold cars (51,507). The new XC90 was third, with 43,911 cars sold (6,719). 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.