Volvo Reports 15% Growth in August

Volvo Cars, the premium car maker, is heading for another record year in retail sales after posting a double digit global sales growth of 15.5 per cent in August compared to the same period last year.

Total sales for the January to August period amounted to 359,798 cars, up 8.7 per cent compared to the year before. Volvo sold a record 534,332 cars in 2016 and is confident it will report a new, fourth consecutive sales record this year.

Global retail sales in August reached 37,879 cars, up from 32,800 cars the same month last year. The strong increase was mainly driven by demand for the company’s new 90 series cars, while the first generation XC60 remains the best-selling model.

In China, Volvo’s largest market, sales grew by a strong 25.9 per cent to 9,616 cars. This helped the Asia Pacific region record the strongest sales growth of all main regions in August, with an increase of 20.2 percent to 12,586 cars. The locally-produced XC60, S60L and S90 models continued to be the main growth drivers.

The EMEA region also recorded double-digit sales growth of 18.9 per cent to 15,637 cars sold in August, as the region continued to see strong demand for the new V90 and XC90 as well as the XC60. Double-digit increases in key markets such as Sweden and Germany drove the result, while markets such as Italy, France, Norway and Spain also showed good performances.

The Americas region returned to growth in August, reporting a sales increase of 5 per cent to 9,486 cars, of which 7,994 in the United States. The most popular model in the region is the XC90, followed closely by the first-generation XC60.


Source | Images: Volvo Cars.

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