Volvo Cars Sets New Global Sales Record in 2018; Breaks 600,000 Sales Milestone
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 percent 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 the US, China, and Europe. In December, the company sold 60,157 cars, up 2.8 percent compared with the same period last year.
In the January to December period, US sales grew by 20.6 percent 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 Volvo 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 percent to 130,593 cars during the year, as compared with the same period the year before. The locally-assembled Volvo XC60 and the Volvo S90 models spearheaded the demand. For December, total sales in the region reached 11,868 cars, up 17.9 percent.
Europe also reported a strong performance in the year. Sales rose by 6.4 percent to 317,838 cars in the 12-month period compared to 2017. The new Volvo V60 and Volvo XC40 models led the robust performance. 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 units (2017: 184,966 units), followed by the Volvo XC90 with total sales at 94,182 units (2017: 87,518) and the Volvo V40/V40 Cross Country at 77,587 units (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).
Sales has also been particularly robust in the Philippines with the award-winning Volvo XC60 leading the pack and claiming 40 percent of the pie. The luxurious Volvo XC90 follows with 23 percent and the opulently-appointed Volvo S90 with 17 percent. The ingeniously smart and nimble Volvo XC40 already claimed 14 percent despite coming in late in the year. Orders have been pouring in for the compact and youthful SUV in the Volvo lineup despite it not having been officially launched locally yet. The Volvo S60 and Volvo V90 also contributed in the overall annual sales with Volvo enthusiasts still preferring the sporty sedan and versatile sportswagon.
For 2019, the local Volvo market looks forward to a positive year with the arrival of new models and variants that will expand the range. Volvo enthusiasts will have more options, including an exhilarating switch to a Volvo Plug-in Hybrid.