Premium carmaker Volvo Cars has maintained solid sales momentum in the first nine months of the year, with global volumes up 7.4 percent, compared with the same period last year. The company sold a total of 507,704 cars between January to September 2019.
Europe, China and the US all reported a steady sales growth in the January to September period, with Volvo Cars consistently growing faster than the industry, thereby gaining market share across these regions.
In September, Volvo Cars sold 64,536 cars, up 6.5 percent. The first nine-month performance was supported by the continued strong demand for the award-winning SUV range led by the XC60, followed by the XC40 and the XC90. New models like the V60 estate, V60 Cross Country and the US-made S60 sedan also contributed to the increased volumes.
The company’s sales in Europe totaled 247,610 cars in the January to September period, up 6 percent year on year. The growth in the region was led by the performance in the United Kingdom, up 19.3 percent, while German sales grew 24.8 percent.
In the US, Volvo Cars continued to buck the industry trend, by posting a steady sales growth in the first nine months. US sales rose 4.7 percent to 77,432 cars, with the top selling models being the XC90 and the XC60 SUVs.
Sales in China reached 109,512 cars in the first nine months, up 13.8 percent, due to continued strong demand for the locally produced XC60 and the S90 models.
Globally, the XC60 continued to be the top selling model for the company in the January to September period, retailing 145,629 cars (2018: 134,975 units), followed by the XC40 at 95,475 cars (2018: 48,543 units) and the XC90 with sales of 71,830 cars (2018: 70,329 units).
Volvo Cars, which was founded in 1927, ranks as one of the most well-known and respected premium car brands in the world. In 2018, it sold 642,253 cars in about 100 countries. Since 2010, Volvo Cars has been under the ownership of the Zhejiang Geely Holding of China.
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).
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.