Volvo’s sales rose 12,6 percent in October determined mainly by a positive month in the US.
Volvo Cars posted a 12,6 percent increase in retail sales for the month of October, selling 45,801 cars globally. The main “engine” was the new Volvo XC90, with sales in the US market being at a higher level than the predictions, while Europe reported continued sales increases as well. Volvo’s US sales have picked up the pace in recent months after a very long period of latency due to a less attractive line-up for the market and limited financing options. The United States reported 7,422 retail sales, making it Volvo Cars’ biggest market in October. The strong demand for the new XC90 made the SUV the best-selling Volvo model in the US for the month. Year-to-date sales in the US market are now up 12,5 percent.
Retails in Europe as a whole were up by 5,2 percent to a total of 24,468 cars. Sweden was the growth driver in Europe with a 9,0 percent sales increase and a close to 22 percent share of the Swedish market. Germany reported positive developments as well, being the second biggest market for the new Volvo XC90 in October. The world’s biggest auto market, China, is not a very confident one at this moment for the industry, but the Swedish company said sales were up 2,0 percent last month with a total of 7,066 cars. The locally produced Volvo XC60 and S60L models were the best-selling Volvo models in China.
By Sorin Petcu