2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36
Volvo is on the road to success. In 2015, the Swedes were not only able to increase sales, but also increase sales and earnings.
Volvo wants to keep growing. After the record sales of over 503,000 vehicles sold worldwide in the previous year, the Swedish carmaker wants to increase sales and earnings again in 2016. The CEO Hakan Samuelsson announced on Thursday at the company's annual press conference in Stockholm.
Last year, Volvo, which has been part of the Chinese Geely Group since 2010, tripled its operating profit from 2.128 billion Swedish crowns (approx. 224.68 million euros) to 6.62 billion crowns (around 669 million euros). Sales rose from 14.53 billion euros to 17.32 billion euros, as the company announced. Volvo expects further growth this year in particular from China, Europe and the USA.
The model offensive continues
With a view to further growth, Volvo is banking on a model offensive. After the new XC90 was launched last year, this year there will also be the facelift of the V40 and the market launch of the Volvo S90 and V90, which were presented at the annual press conference. The premium station wagon will celebrate its public premiere in March at the Geneva Motor Show. Volvo plans to increase its worldwide sales to 800,000 units by 2020. By then, the entire model range should be completely overhauled.
The Swedes' models are popular with customers. For the XC90, for example, more than 88,000 orders were received last year, "more than we expected," as Samuelsson said. In the United States, Volvo will build a new plant in South Carolina by 2018. The manufacturer has invested 500 million US dollars for this. This means that Volvo will then produce cars locally in all regions that are important for the brand. This means that one will be able to react better to market fluctuations, said the CEO.
Last year, Volvo sold 198,000 units in Western Europe, almost 82,000 vehicles in China and 70,000 units in the US market, which is particularly important for further growth. 71,200 vehicles were delivered to customers in the home market of Sweden. (AG / FM)
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