Volvo Cars set a new global sales record in 2018, breaking the 600,000 sales milestone for the first time ever since the company was founded in 1927.
The company’s sales rose 12.4 % to 642,253 cars in 2018, compared with the same period the year before. This is the fifth consecutive year of global sales record for Volvo Cars. In 2017, the company sold 571,577 cars.
The new sales record in 2018 underscores strong demand for Volvo’s renewed product portfolio, led by its award winning SUV line-up, across the core regions of US, China, and Europe. In December the company sold 60,157 cars, up 2.8 per cent compared with the same period last year.
The XC60 was the company’s top selling model with sales reaching 189,459 units, followed by the XC90 with 94,182 units, and the Volvo V40/V40 Cross Country at 77,587 units. During the first 12 months, a total of 75,828 XC40s were sold while the S90 generated volumes of 57,142 units.
In the US, sales grew by 20.6 per cent to 98,263 cars compared with the same period the year before. The strong performance came on the back of growing demand for its SUV line-up, led by the XC60.
In China, sales grew by 14.1 per cent to 130,593 cars during the year, as compared with the same period the year before. The demand was spearheaded by the locally assembled XC60 and the S90 models.
Europe also reported a strong performance for the year. Sales rose by 6.4 per cent to 317,838 cars in the 12-month period compared to 2017. The robust performance was led by the new V60 and XC40 models.