Volvo sold for the first time more than 500,000 cars in 2015 image

The Swedish automaker has reported sales of 503, 127 units for last year, marking the first time it has overpassed more than half a million cars in company’s history.

Volvo’s last year sales record, mostly boosted in the later stages of 2015, were mainly due to the launch of the new XC90 SUV. The automaker reported strong demand in all three main global regions. Deliveries in Europe rose 10.6 percent for the year to 269,249 units, representing 53.5 percent of total global volume. The US market was also responsive to Volvo’s new product strategy, with a boost of 24.3 percent in 2015 to 70,047 cars and 89.9 percent increase for the last month of the year. Deliveries in China remained flat amid the challenging sales environment, but looked stronger at the end of 2015 with sales up 11.4 percent in the fourth quarter. These upward sales trends are expected to continue in 2016, the company said, as Volvo is relying for this year on its new S90 premium sedan, which is being revealed to the public at the North American International Auto Show in Detroit and will go on sale in the US in the spring. In four years’ time, Volvo promises it will have renewed its entire model range.

Volvo plans to continue its efforts to revive its operations in the US and develop its global manufacturing footprint, the Swedish carmaker said in a statement. In the medium term, it will continue to grow in China, double its market share in Europe and increase its sales globally to 800,000 cars. In coming years, Volvo’s larger 90 series and 60 series cars will be built on its Scalable Product Architecture, while it will also implement a global small car strategy, based on its Compact Modular Architecture (CMA). It is also committed to develop an all-electric car for the first time. Volvo expects at least 10 percent of its annual sales to be electrified vehicles in the medium term.

Retail sales status for Volvo Car Group is as follows:

December January – December
2014 2015 Change 2014 2015 Change
China 8 503 9 822 15,5% 81 574 81 588 0,0%
USA 4 920 9 341 89,9% 56 371 70 047 24,3%
Sweden 6 265 9 081 44,9% 61 357 71 200 16,0%
Western Europe 18 874 24 451 29,5% 182 157 198 049 8,7%
Other markets 8 483 9 430 11,2% 84 407 82 243 -2,6%
TOTAL 47 045 62 125 32,1% 465 866 503 127 8,0%