Volvo Car Corporation still profitable after the first nine months image

Volvo Car Corporation has delivered an operating profit of 477 MSEK or 72 m$in the first nine months and expects to show positive figures for the full year of 2011.

The automaker reported increased sales in the third quarter by 27.7 percent to 103, 119 units, an improvement of 22, 396 units.

Volvo said that it succeeded to increase sales in all regions, while China remains the largest single market for the Swedish brand: up 67.8 percent over 2010. In the United States the company grew by 19.9 percent, the Nordic region by 23.6 percent, Europe improved by 20.0 percent and the Overseas region grew by 50.3 percent compared to the same period in 2010.

In September Volvo recorded a new historical all time high with sales of nearly 42,000 units.
Improved sales are mainly driven by strong demand for the 60-series, with the all new S60 and V60 together with the XC60 crossover outperforming all other car lines.

In Europe 29.4 percent of all sold Volvo cars in the third quarter carried the DRIVe badge.
The XC90 continues to perform well, growing by nearly 10 percent compared to 2010 in the third quarter, and the XC range now represents around 35 percent of total sales.

However the company prepares to close the Uddevalla plant where the C70 is produced. The plant is only producing 10,000 cars a year, about 65 percent of its production capacity and well below the volumes it would need to be profitable.

1 Swedish krona = 0.150661 U.S. dollars