Volvo sales climb 13%, CEO sees positive outlook for 2015 image

Volvo Cars, a wholly owned subsidiary of China’s Zhejiang Geely Holding Group, announced its deliveries surged 13% in October, the 16th consecutive month of gains.

The premium automaker, which has enjoyed a new lease of life after being acquired by its Chinese parent from America’s Ford Motor back in 2008, has seen its sales lifted by strong demand in China – the world’s largest auto market – and in the European home region. The carmaker said in a statement that its deliveries reached 40,680 units last month, buoyed by a 36% jump in China and a 12% rise in Europe. The US figure was also slightly up, at 1.4%.

“We want to grow in all three areas,” says Volvo CEO Hakan Samuelsson. We may not grow in China at the same rate as 2014, but we want to continue to grow significantly. In the U.S. we knew that this year would be challenging – we will go down in volume, slightly, but we will grow next year predominantly driven by the XC90. In Europe we plan to grow both in volume and in share.”

Sales for the 10-month period are now up 9.5% to 379,880 autos. According to the company, increases in Europe were driven by the strong UK performance – where the XC60 crossover was the primary driver for volume increases. The modest US increases were supported by increased demand for the S60 car and XC 60 SUV. In China – which can now be considered a domestic market for Volvo – the gains were buoyed by the rising sales of the S60L sedan and the closely following XC60.

Via Automotive News Europe