Volvo Cars reports 10.5% sales growth for first 6-months of 2016

Automotive

Published on July 21st, 2016 | by Daniel Sherman Fernandez

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Volvo Cars reports 10.5% sales growth for first 6-months of 2016 

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Volvo Cars has just reported a solid double-digit sales increase for the first 6-months of the year, posting growth of 10.5% to 256,563 cars compared to the same period in 2015. Sales of the new Volvo XC90 remains 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% 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-sold Volvo model in the region, while the new XC90 also saw strong demand.

Volvo’s resurgence in the United States also continued apace, as the company delivered close to 25% more cars over the 6-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 with 40,688 cars sold, an increase of 6.3% year-on-year, driven by growing demand for the new XC90 as well as the locally produced XC60 and S60L sedan.

In June, Volvo retail sales increased by 10.6% overall compared to 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%), followed by China, Sweden, the UK and Germany.

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

 June January – June
        
 20152016Change 20152016Change
        
China7 2827 7276,1% 38 29240 6886,3%
        
USA5 9858 58843,5% 29 36736 65424,8%
        
Sweden6 3717 22813,5% 32 46036 45512,3%
        
West. Europe19 00420 0985,8% 93 398102 3969,6%
        
Other markets7 8787 744-1,7% 38 76740 3244,0%
        
TOTAL46 52051 43110,6% 232 284256 56310,5%
        

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).

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