Automotive

Published on August 10th, 2019 | by Hammer

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Volvo Cars Sales Jump 7.1% Globally

Volvo Cars is having the best 12 months in terms of sales and brand awareness. With the success of the XC40 crossover and the XC60 sales jump, the Swedish car brand’s global sales continued to grow at a steady pace in July, up 7.1 per cent compared with the same period last year.

Total sales during the month reached 54,546 cars, as all the regions of China, US and Europe reported a growth in volumes.

Volvo’s sales growth in China accelerated in July, with volume advancing 25 percent to 12,639 after adding more locally produced models. The growth reflected strong demand for the locally produced XC60 midsize crossover and the S90 large sedan. The locally built XC40, which went on sale in April, also contributed to volume growth, Volvo said, without disclosing sales of individual models.

The XC40 compact crossover is the fourth product the Swedish automaker assembles in China, following the XC60, S90 and the S60 compact sedan.

While the other three vehicles are built at Volvo factories, the XC40 is produced in Geely Automobile Holdings’ Luqiao plant in east China’s Zhejiang province.

Volvo and Geely Auto are both owned by private Chinese company Zhejiang Geely Holdings Group.

The XC60 and the S60 are built at Volvo’s plant in the south China city of Chengdu, while the S90 is produced at a Volvo factory in the northeast China city of Daqing.

In the January to July period Volvo’s total global sales reached 395,372 up 7.3 per cent compared with the same period last year.

The volume growth in July was on the back of continued strong demand for Volvo’s award winning SUVs led by the XC60, followed by the XC40 and the XC90. The company’s latest models the V60 Estate, the US-made S60 sedan and the V60 Cross Country also contributed to the volumes.

Volvo’s sales in Europe reached 25,518 cars in the month, up 4.8 per cent compared with the same period last year. The XC40 was the top selling model in the region during the month, followed by the XC60.

Sales in China grew 24.9 per cent compared with the same period last year, to reach 12,639 cars. The growth was led by strong demand for the locally produced XC60 and the S90. The XC40, which started local production recently, also contributed to the volume growth.

US sales reached 8,795 cars during the month, up 2.0 per cent compared with the same period last year. The XC90 was the top selling car in the region during the month, followed by the XC60 and the XC40.

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