Volvo achieved yet another record monthly sales increase in September, bucking the overall trend in the Australian premium segment.
In September the Swedish premium car maker recorded a 116% growth in sales, driven by the popularity of its award-winning XC90, XC60 and XC40 premium SUVs.
National sales data released today by VFACTs show Volvo's sales are up over 41% year to date. In September Volvo sold 682 cars, an increase of 116% compared to September 2017.
Volvo strong sales growth continues to outperform the segment and the industry, underlining its resurgence in Australia. By comparison, sales of the top eight brands in the premium segment declined by 10.4% in September, and were down by 6.5% year to date. The total Australian car market declined by 5.5% in September.
Commenting on the results, Volvo Car Australia Managing Director, Nick Connor, said: "September was yet another strong month of increased sales for us in what is a very competitive segment. To be up 116% in a segment down by over 10% in September, is a fantastic achievement for our brand and our dealer network. Volvo continues to buck the trend."
"There is no doubt that the Australian luxury car buyers have taken to our design and technology, that is underpinned by our legendary leadership in safety, which has resulted in us being the best performing luxury car brand in Australia so far this year."
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Volvo Car Group in 2017
For the 2017 financial year, Volvo Car Group recorded an operating profit of 14,061 MSEK (11,014 MSEK in 2016). Revenue over the period amounted to 210,912 MSEK (180,902 MSEK). For the full year 2017, global sales reached a record 571,577 cars, an increase of 7.0 per cent versus 2016. The results underline the comprehensive transformation of Volvo Cars' finances and operations in recent years, positioning the company
for its next growth phase.
About Volvo Car Group
Volvo has been in operation since 1927. Today, Volvo Cars is one of the most well-known and respected car brands in the world with sales of 571,577 cars in 2017 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding (Geely Holding) of China since 2010. It formed part of the Swedish Volvo Group until 1999, when the company was bought by Ford Motor Company of the US. In 2010, Volvo Cars was acquired by Geely Holding.
In 2017, Volvo Cars employed on average approximately 38,000 (30,400) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for China is located in Shanghai. The company's main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).