Swedish premium car maker Volvo ended 2018 on a high note, with strong sales in December underpinning an impressive eleven months of continuous growth.
National sales data released by VFACTs for December show Volvo recorded a 30% increase in December year-on-year sales, boosted by sales of Volvo's award-winning XC40, XC60 and XC90 SUVs.
During 2018 Volvo sold 6,693 vehicles, which was a 43% increase in annual sales, and one of the biggest ever recorded by Volvo Cars in Australia.
"2018 was a stellar year for Volvo Cars, and we are very proud of the strong growth we have achieved over the last twelve months," said Volvo Car Australia Managing Director, Nick Connor.
During 2018 Volvo emerged as one of the fastest growing new car brands in Australia, driven by the success of the highly competitive and desirable luxury SUV's.
"This growth reflects the very strong appeal of our multi-award-winning product range, our world class reputation for safety, design and technology, and the great care that Volvo dealers take of our customers", Mr. Connor added.
"We look forward to continuing our growth during 2019."
In November the Volvo XC40 was awarded the 2018 Carsales Car of the Year whilst the XC60 has won a swag of awards, including the coveted 2018 Wheels Car of the Year.
In addition to all the Australian awards, the XC40 is the current European Car of the Year while the XC60 holds the title of the 2018 World Car of the 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).