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Volvo Cars cracks 500,000 unit marker in annual global sales for first time

Volvo Cars sold 503,127 cars worldwide in 2015, the first time it has sold more than half a million cars in its 89-year history. Volvo reported strong sales from all three core global regions. Sales in Europe rose 10.6% for the year to 269,249 units, representing 53.5% of total global volume. Volvo’s revival in the US gained momentum with sales in the US up 24.3% to 70,047 units in 2015. China was flat amid a challenging sales environment with 81,588 units, but looked stronger at the end of the year with sales up 11.4% in the fourth quarter.

Volvo said that its new sales record underscores the strength and sustainability of its ongoing operational and financial transformation. It is also an endorsement of the company’s new product strategy, with global sales boosted in the later stages of 2015 by the new XC90 SUV.

The second model in Volvo’s all-new model range—the S90 premium sedan—is being revealed to the public at this year’s North American International Auto Show (NAIAS) in Detroit next week and will go on sale in the US in the Spring. In four years’ time, Volvo will have renewed its entire model range.

Volvo plans to continue to revive its operations in the US and develop its global manufacturing footprint. In the medium-term, it intends to 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 (SPA). Volvo will also implement a global small car strategy with its Compact Modular Architecture (CMA).

Volvo said it will enhance its position as a global maker of hybrids with a series of four- and three-cylinder hybrid engines. It will also develop an all-electric car. Volvo expects at least 10% of its annual sales to be electrified vehicles in the medium-term.

Volvo Cars has made significant progress since being acquired by Zhejiang Geely Holdings in 2010, not least in expanding its manufacturing footprint. With the announcement of its new factory in South Carolina in the US, Volvo now has an industrial presence in all three key global regions: Asia, Europe and the US.


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I was sceptical of this Chinese takeover. Thought Volvo would be shout down and moved to China altogether. However, it turned out to be a blessing for Volvo that has prospered more than ever since that takeover. Nothing wrong with Chinese capital as lang as it is done by private Chinese entrepreneurs like in Volvo's case.

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