Volvo Cars crosses the six lakh mark in global sales in 2018
In a new record for the company, Volvo Cars sold more than six lakh units worldwide in 2018. The company's sales rose 12.4 per cent from 571,577 in 2017 to 642,253 cars last year. This is the fifth straight year of growing sales for the brand.
The company says that its renewed portfolio of products, especially SUVs, is a main catalyst for its growth. Another factor is its strong showing in China. The company had the strongest showing in markets which it classifies as Others, we are assuming this is regions like India, Middle East, Australia and South America. Here the company grew by 24 per cent. It also grew by 20.6 per cent in the US, again led by demand for its SUVs, especially the XC60. The company attributes its 14.1 per cent growth in China to the demand generated by the locally assembled XC60 and the S90 models. It grew the slowest in Europe at 6.4 per cent, but the region remains its biggest market by far, over half its cars were sold there.
Volvo's largest selling car in 2018 was the XC60. It sold 1,89,459 units followed by the XC90 with total sales of 94,182 cars (2017: 87,518). The Volvo V40/V40 Cross Country followed at 77,587 cars. During the first 12 months, a total of 75,828 XC40s were sold while the S90 generated volumes of 57,142 units.
The new Volvo
It is unsurprising that the Swedish brand has had a successful year. Its new cars look great, are a genuine break from the German norm, are well equipped and well priced. Its commitment towards hybrids and EVs is another strong suit. Consequently, the XC40 was awarded the ICOTY prize for premium cars in 2018.
Starts Rs 61.9 Lakhs