Volvo Creates Record Sales in 2018
2019-02-19 10:09 Tuesday
Volvo, owned by China's Zhejiang Geely Holding Group Co., sets a new global sales record in 2018 by selling 642,253 cars in 2018, breaking the 600,000 sales milestone for the first time since the company was founded in 1927. This is the fifth consecutive year of global sales record for Volvo Cars. In 2017, the company sold 571,577 cars.
Thanks to the strong demand for Volvo's renewed SUV line-up in core regions of US, China, and Europe, the company sold 60,157 cars in December, up 2.8% compared with the same period last year.
Faisal Sharif, exclusive distributor of Volvo Cars in Qatar, said: "Volvo enjoyed yet another year of unprecedented international and regional awards and sales. From the record-breaking sales results of 2018, it is clear that customers around the world continue to respond enthusiastically to the style, quality and appeal of the Volvo range."
"As Volvo continues to introduce new models and upgrade the existing ones, we expect to see continued sales growth in Qatar. The sales results are not just about figures on a spreadsheet, they also reflect the hard work and commitment of everyone in sales and after sales teams." He added.
From January to December, US sales grew by 20.6% to 98,263 cars compared with the same period the year before. While Volvo CEO Hakan Samuelsson said that risks such as Washington's trade war with Beijing, the potential of higher tariffs on cars going back and forth between the U.S. and Europe, and Brexit make market conditions "extra uncertain" right now.
"We see a future with continued growth," the CEO noted. "We have no plans for layoffs because we need all our people. Our focus is on increasing our productivity in car building. Also, operationally we have to question every dollar we spend. And we are focused on reducing our materials cost."
Samuelsson believes that Volvo will set a new global vehicle sales record for the sixth consecutive year in 2019, and he won't rule out exceeding 700,000 for the first time in the automaker's history.