Volvo Has Strong Sales Growth In April

Posted by at 3:01 pm on May 3, 2018

Geely’s Volvo¬†unit boosted sales in April 12.2% year on year with growth in all main markets helped by new model launches.

The tally for the month was 52,635 cars compared with 46,895 in April 2017.

Sales of the new XC40 as well as the 90 series cars were the main growth drivers in April. In the first four months of 2018, sales rose 13.6% to 200,042 cars.

In China, the firm’s largest market, sales increased 20.2% following strong demand for the locally produced XC60 SUVs and S90 saloons. Sales reached 10,442 cars, up from 8,687 a year ago.

Sales in Europe rose 3.1% to 26,360 cars last month after good results for the XC40, XC60 and 90 series models.

Geely’s Volvo Cars boosted first quarter 2018 operating profit 3.6% year on year to MSEK3,616m.

Sales revenue rose 18.9% to MSEK56,813m but net profit slipped 1.8% to MSEK2,558m.

The EBIT margin also fell, to 6.4% from 7.3%.

US volume rose 17% to 8,333 boosted by SUV sales.

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