Published on January 7th, 2019 | by Subhash Nair0
Volvo Cars Hits Global Sales Record of 600,000 Units in 2018
Volvo Cars set a new global sales record in 2018, breaking the 600,000 sales milestone for the first time ever since the company was founded in 1927. The company’s sales rose 12.4 per cent to 642,253 cars in 2018, compared with the same period the year before. This is the fifth consecutive year of global sales record for Volvo Cars. In 2017, the company sold 571,577 cars.
The new sales record in 2018 underscores strong demand for Volvo’s renewed product portfolio, led by its award winning SUV line-up, across the core regions of US, China and Europe. In December the company sold 60,157 cars, up 2.8 per cent compared with the same period last year.
In the January to December period, US sales grew by 20.6 per cent to 98,263 cars compared with the same period the year before. The strong performance came on the back of growing demand for its SUV line-up, led by the XC60. The made-in-the-US S60 cars have also started reaching dealerships and should contribute to volumes in 2019. In December, Volvo Cars sold 8,826 cars in the US market.
Sales in China grew by 14.1 per cent to 130,593 cars during the year, as compared with the same period the year before. The demand was spearheaded by the locally assembled XC60 and the S90 models. For December, total sales in the region reached 11,868 cars, up 17.9 per cent.
Europe also reported a strong performance in the year. Sales rose by 6.4 per cent to 317,838 cars in the 12-month period compared to 2017. The robust performance was led by the new V60 and XC40 models. In December the company sold 29,469 cars in the region.
In 2018, Volvo’s XC60 was the company’s top selling model with sales reaching 189,459 cars (2017: 184,966 units), followed by the XC90 with total sales at 94,182 cars (2017: 87,518) and the Volvo V40/V40 Cross Country at 77,587 cars (2017: 95,370 units). During the first 12 months, a total of 75,828 XC40s were sold while the S90 generated volumes of 57,142 units (2017: 46,602 units).